SPH REIT achieved steady performance in 3Q 2017

“SPH REIT has continued to maintain its track record of 100% committed occupancy and delivered stable performance. We remain committed to our management philosophy that treats the relationship with tenants as a partnership, focusing on sustainable returns for both tenants and landlord. We will continue to work closely with our tenants to ride through the challenges in the retail industry, including optimization of sales productivity, embracing the fast-changing consumer expectations, identifying opportunities in e-commerce and technology advancement. This firm partnership and the well-established positioning of our properties would underpin the long-term sustainability of SPH REIT.”

Ms Susan Leng, CEO

  • 3Q 2017 DPU was 1.37 cents, an increase of 0.7% year-on-year
  • Maintained 100% committed occupancy

SPH REIT Management Pte. Ltd. (“SPH RM” or the “Manager”), the Manager of SPH REIT, reported that gross revenue for the third quarter ended 31 May 2017 (“3Q 2017”) grew S$1.0 million (2.1%) to S$53.3 million, on the back of higher rental income. With proactive management of utility contract and other expenses, net property income (“NPI”) of S$42.2 million was S$2.1 million (5.4%) higher in 3Q 2017 compared to the same quarter last year (“3Q 2016”).

Income available for distribution to unitholders increased by S$0.7 million (2.0%) to S$35.7 million for 3Q 2017. Distribution per unit (“DPU”) for 3Q 2017 was 1.37 cents, an increase of 0.7% against 3Q 2016. The aggregate DPU was 4.11 cents for the year-to- date ended 31 May 2017 (“YTD 3Q 2017”). The 3Q 2017 distribution will be paid to unitholders on 23 August 2017.

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