Singapore-listed Suntec REIT posted a fourth quarter DPU of 2.33 cents. This is down 6.2% from 2.48 cents in the same quarter last year. Distributable income for 4Q12 has similarly slid by 5.3% from the same quarter last year to S$52.39 million. The earning report comes on the back of a 31.3% year-on-year slide in gross revenue to S$55 million for the REIT.
For Y2012, DPU for Suntec REIT fell 4.5% to 9.49 cents while distributable income fell 3.5% to S$213.05 million.
|Suntec REIT's slide in gross revenue has been attributed to the partial closure of Suntec City Mall which is currently undergoing asset enhancement,|
ARA Trust Management (Suntec) which manages the REIT has attributed the fall in revenue to a partial closure of the Suntec City Mall which is currently undergoing asset enhancement works, and a divestment of the popular entertainment premises CHIJMES.