Sasseur REIT - Phillip Securities 2023-08-18: Stronger Than Expected Sales But FX Hit

• Sasseur REIT (SGX:CRPU)'s 1H23 rental income in S$ terms was within expectations at 47.7% of our estimates (S$62.6m, -1.4% y-o-y, +8% y-o-y in RMB), representing a S$0.9m y-o-y decrease due to the weakening RMB against the S$ by 8.7%, as compared to 1H22.
• - Read this at SGinvestors.io -
• Sasseur REIT's 1H2023 DPU was within expectations at 50.6% (3.322 cents, - 2.6% y-o-y). Sasseur REIT retained 6.7% of distributable income mainly for the repayment of onshore RMB loans.
• - Read this at SGinvestors.io -

The Positives

1H23 outlet sales up 20.5% (RMB2.5Bn) and reached all-time high since listing.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-02-21 Sasseur REIT - FY25e Sales To Grow By Low-single-digit.

Previous report by Phillip:
2024-11-11 Sasseur REIT - Sales Disrupted By Natural Disasters.

Price targets by 2 other brokers at Sasseur REIT Target Prices.

Listing of research reports at Sasseur REIT Analyst Reports.

Relevant links:
Sasseur REIT Share Price History,
Sasseur REIT Announcements,
Sasseur REIT Dividend Payout Dates & Corporate Actions,
Sasseur REIT News