Starhill Global REIT’s net property income up 2% to $39.6m in Q4

On back of robust performance of its Singapore properties.

Starhill Global REIT reported that its net property income increased 2% year-on-year to $39.6m in the fourth quarter. Revenue declined marginally by 0.4% to $48.9m due to weaker contribution from its China and Japan assets, but this was offset by a stronger performance from its Singapore properties.

Its Singapore properties contributed 67.9% of total revenue, or $33.2 million in 4Q 2014, 3.2% higher than in 4Q 2013. NPI for the fourth quarter was S$26.5 million, 3.9% higher than in 4Q 2013.

The stronger performance of the group's Singapore properties was largely attributed to the positive rental reversion from new and renewed leases.