“Market demand was exceptionally weak at the start of the year. Softness in the corporate segment impacted our performance as macroeconomic concerns weighed on business travel, especially at our serviced residences, which predominantly serve corporations.
To stay competitive, we will continue to refresh our properties and seek new avenues for growth. At the same time, we will also maintain a proactive approach in capital management, ensuring a strong debt position and financial flexibility to grow the Trust.”
Mr Gerald Lee, Chief Executive Officer
0.93 cents SGD (1Q 2017)