Brief: Starhill Global REIT Posts Q3 Net Property Income Of S$35.2 Mln

Starhill Global Real Estate Investment Trust

28/04/2020 15:11

April 28 (Reuters) - Starhill Global Real Estate Investment
Trust  STHL.SI :
    * Q3 NET PROPERTY INCOME S$35.2 MILLION VERSUS S$39.6
MILLION
    * ANNOUNCED CHANGE OF DISTRIBUTION FREQUENCY TO SEMI-ANNUAL
FROM
CURRENT QUARTERLY DISTRIBUTIONS FROM 3Q
    * TENANT SALES & SHOPPER TRAFFIC EXPECTED TO DECLINE
SUBSTANTIALLY
IN NEXT QUARTER
    * TENANT SALES AND SHOPPER TRAFFIC ARE EXPECTED TO DECLINE
SUBSTANTIALLY IN NEXT QUARTER
    * DELAYING NON-ESSENTIAL CAPITAL EXPENDITURES FOR SGREIT
    * REDUCING 10% OF BASE MANAGEMENT FEES PAYABLE BY SGREIT FOR
NEXT
THREE MONTHS
    * COVID-19 EXPECTED TO HAVE SIGNIFICANT ADVERSE IMPACT ON
FINANCIAL PERFORMANCE FOR REMAINING FY
    * RENTAL PAYMENTS OF AFFECTED TENANTS MAY POTENTIALLY BE
DEFERRED
IN SINGAPORE DURING CIRCUIT BREAKER PERIOD
    * COVID-19 EXPECTED TO HAVE ADVERSE IMPACT ON INCOME FOR
DISTRIBUTION & CASHFLOW FOR REMAINING FY

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ7dKy7B
Further company coverage:  STHL.SI 

 (Reuters.Briefs@thomsonreuters.com)