161 views

Suntec REIT's net income jumps 24.9% to $74.3m

The increase was due to higher contributions from Suntec Mall, and two other properties.

Suntec REIT's net income jumped 24.9% to $74.3m in Q122, its latest financial statement showed.

The increase was driven by new contributions from The Minister Building in London and higher contributions from Suntec City Mall in Singapore, Suntec Convention, and 21 Harris Street.

This was partially offset by lower occupancy at 177 Pacific Highway, and a weaker Australian dollar.

Given the jump in net income, the REIT's distributable income also rose by 18.2% YoY to $68.7m.

This brought the distribution per unit (DPU) to $0.02391, which is 16.9% higher YoY.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!