Suntec REIT - OCBC Investment 2024-01-25: To Live Another Day

• Suntec REIT (SGX:T82U)’s 2H23 gross revenue increased 6.6% y-o-y to S$238.4m but net property income (NPI) fell 1.8% y-o-y to S$159.8m due to higher maintenance fund contribution and commencement of sinking fund contribution in FY23. DPU declined by a larger magnitude of 10.2% y-o-y to S$0.03659 due to higher finance costs and lower finance income, but partially offset by a strong rebound in its convention business. See Suntec REIT's distribution dates.

FY23 DPU slumped ~20%

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -

Continued robust rental reversions in Singapore & Australia; Occupancy fell for both its retail & office portfolios

• Operationally, Suntec REIT reported another round of robust rental reversions in Singapore (both retail and office) and Australia.
  • Read more at SGinvestors.io.

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

Read also OCBC's most recent report:
2026-01-23 Suntec REIT - Brighter Rays Of Sunshine.

Previous report by OCBC:
2025-10-24 Suntec REIT - Lower Rates To Alleviate Pressure.

Price targets by 4 other brokers at Suntec REIT Target Prices.

Listing of research reports at Suntec REIT Analyst Reports.

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