Starhill Global Reit, which owns shopping malls on Orchard Road, said its income to be distributed for the third quarter rose 7.8 per cent to S$18.3 million from a year ago.
Distribution per unit for the three months ended September was 0.95 cents, 6.7 per cent higher compared to the year-ago period, after adjusting for the rights issue.
Net property income for the quarter rose 10.4 per cent to S$26.1 million mainly due to better performance by the reit’s Singapore properties.
The reit’s manager said it’s cautiously optimistic about the outlook ahead, given the encouraging signs of recovery in the global credit market, as well as the turnaround in the Singapore economy and tourist arrivals.
Source : Channel News Asia – 28 Oct 2009
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