Starhill Global REIT's flagship property in Malaysia, Starhill Gallery. (Photo: Google Maps)Starhill Global REIT's flagship property in Malaysia, Starhill Gallery. (Photo: Google Maps)

Data from Starhill Global REIT’s latest results have been updated into the Singapore REITs table.

Starhill Global REIT has reported distribution per unit (DPU) of 2.07 cents for its 2H FY20/21, including a deferred 0.21 cents from the previous financial year.

Excluding the effects of the deferred portion, the DPU for 2H FY20/21 was 77.1% higher year-on-year.

The REIT’s gross revenue for the financial year grew 0.3% year-on-year from SGD180.8 million in the financial year ended 30 June 2020 to SGD181.3 million in FY20/21.

Correspondingly, net property income (NPI) increased by 2.0% on-year from SGD132.1 million in FY19/20 to SGD134.7 million in FY20/21.

Starhill Global REIT has attributed the increase to lower rental assistance for eligible tenants affected by the COVID-19 pandemic and the appreciation of the Australian dollar against the Singapore dollar.

The REIT’s full disclosure on its results can be viewed here.

Starhill Global REIT was last done on the Singapore Exchange at SGD0.62, which currently implies a distribution yield of 6.68% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.