小散戶的胡言亂語

DPU of 1.26 cents in 3Q FY15/16
– Annualised yield of 6.50% based on closing price of S$0.780 on 31 March 2016
 Group Revenue rose by 12.0% and Group NPI up 7.0% y-o-y in 3Q FY15/16
– Australia portfolio’s NPI up 121.8% y-o-y on contribution from Myer Centre Adelaide
 Updates on master tenancies in Singapore and Malaysia
– Malaysian master tenancy due in June 2016 has been extended at 6.67% higher rents
– Rent review (due in June 2016) for Ngee Ann City Property’s master tenant has commenced
 Asset enhancement initiatives
– Myer Centre Adelaide’s upper floors have been partially activated with short term leases. Discussion with prospective tenants to
take up on a more permanent basis is ongoing
 Strong financial position maintained
– Average debt maturity of approximately 3.3 years as at 31 March 2016, no significant debt refinancing requirement until 2018
– Affirmation of BBB+ rating by S&P, with stable outlook in March 2016
– Borrowings remain fully hedged via a combination of fixed rate debt and interest rate swaps and caps
– Foreign exchange exposures partially mitigated by natural hedge and FX forward contracts

Singapore-listed retail and office REIT, Starhill Global REIT, announced on 22 April that it has achieved a distribution per unit (DPU) of 1.26 Singapore cents for its 3Q FY15/16, unchanged from the same amount paid in the corresponding period last financial year.

Distributable income for the period was SGD27.5 million, 1.3% higher than the previous year. Gross revenue grew by 12.0% to SGD53.6 million while net property income (NPI) increased by 7.0% to SGD41.6 million.

The REIT has attributed the increase in revenue and NPI mainly to the contribution from Myer Centre Adelaide which was acquired in May 2015.

“Rent review discussions with Toshin for the master lease at Ngee Ann City Property has also started”, said the REIT in its statement, without revealing further details on ongoing negotiations.

“In Singapore, Wisma Atria property has seen improving tenant sales and foot traffic as Isetan’s strata-owned space progressively reopens after its closure for renovation since the beginning of 2015”, it added.

Portfolio occupancy dipped from 98.1% to 96.8% year-on-year while weighted average lease expiry(WALE) was at 7.3 years and 5.1 years by net lettable area and gross rent respectively.

The REIT’s gearing as at 31 March 2016 was at 35.4% with a weighted average debt maturity of 3.3 years and an average interest rate of 3.15%.

Units of Starhill Global REIT finished the trading day about 0.6% lower from its previous close on the Singapore Exchange to end at SGD0.79.