- 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.
