- Starhill Global REIT reported half-yearly gross revenue of S$96.3mil (+1.7% y-o-y). Net property income rose a corresponding 1.6% y-o-y to S$75.6mil, due to stronger performance of Singapore (SG income: +1.9% y-o-y) and Perth properties, while clocking in foreign translation gains on income from Malaysia (MY income: +4.4% y-o-y).
1H FY24/25 results in line.
- - Read this at SGinvestors.io -
- As such, Starhill Global REIT's DPU for 1H FY24/25 rose 1.1% y-o-y to 1.8 cents, which is in line with our estimates.
On the operational front, portfolio occupancy remained unchanged h-o-h at 97.7%.
- - Read this at SGinvestors.io -
- Capital management remains healthy with a low gearing ratio of 36.2% and interest rate of 3.69% (>80% of debt hedged on fixed rates).
Further value extraction potential at Wisma Atria through carpark conversion.
- Read more at SGinvestors.io.
