SINGAPORE - Ascott Residence Trust's distribution per stapled security for the six months ended June 30 is expected to fall by 65 per cent to 75 per cent from the 3.43 cents recorded in the first half of 2019, the managers said.
The stapled group's financial performance is expected to be"adversely impacted" due to the unprecedented disruption brought by the novel coronavirus pandemic, the managers said. ART's available income for distribution for the first half of 2020 is expected to be reduced by 55 per cent to 65 per cent from the $74.6 million recorded a year ago for the same period.
In H1 2019, ART recorded fair-value gains of $140.6 million after tax and minority interest. This included a realised fair-value gain of $135 million from the divestment of Ascott Raffles Place Singapore.
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