- Starhill Global REIT (SGX:P40U) reported 2H FY22/23 (Jan to Jun 2023) gross revenue of S$93.0m (-2.5% y-o-y), NPI of S$73.6m (-2.0% y-o-y). Full year gross revenue of S$187.7m (+0.7% y-o-y) and NPI of S$147.8m (+2.2% y-o-y) in line with estimates.
- - Read this at SGinvestors.io -
- Average cost of debt up 14 bps q-o-q to end the financial year at 3.67%.
- Singapore Retail – 2H FY22/23 NPI saw a strong ~5.0% y-o-y increase from Wisma Atria post the completion of a refresh of the exterior of the assets at the end of last year; Ngee Ann City (NAC) retail was flat y-o-y
- Singapore Office – 2H FY22/23 NPI rose by 6% and 3% at Wisma Atria and Ngee Ann City respectively alongside higher rents within the office submarket as well as higher occupancy for Starhill Global REIT’s SG office segment (+ 6.0 ppt y-o-y to 99.4%)
- - Read this at SGinvestors.io -
Capital management adds comfort.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Geraldine WONG DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2023-07-31
Previous report by DBS:
2023-01-30 Starhill Global REIT - Wisma Atria Sales Going Through The Roof.
Price targets by other brokers at Starhill Global REIT Target Prices.
Listing of research reports at Starhill Global REIT Analyst Reports.
Relevant links:
Starhill Global REIT Share Price History,
Starhill Global REIT Announcements,
Starhill Global REIT Dividends & Corporate Actions,
Starhill Global REIT News Articles
