Data from Starhill Global REIT’s latest disclosure is in the Singapore REITs table.

Starhill Global REIT has achieved a 4.1% year-on-year increase in its gross revenue, which came in at SGD94.7 million, for its 1H FY22/23.

Correspondingly, the REIT’s net property income (NPI) for the period increased by 6.7% year-on-year to SGD74.3 million over the same period.

Starhill Global REIT has attributed this rise mainly to the completion of asset enhancement works at The Starhill, lower rental assistance and higher rental contribution from its Singapore office assets.

However, this was offset by lower rental contribution from Wisma Atria’s retail component and net movement in foreign currencies, the REIT added.

Subsequently, income available for distribution for 1H FY22/23 was SGD43.6 million, an increase of 2.2% year-on-year, mainly due to higher NPI and lower net finance costs.

The REIT’s manager will retain SGD2.6 million of income available for distribution for 1H FY22/23 for working capital requirements.

Starhill Global REIT was last done on the Singapore Exchange at SGD0.59, which presently implies a distribution yield of 6.17% according to data on the Singapore REITs table.