For the period from Oct 2 to June 30, DPU was 3.05 Singapore cents, 19.7 per cent lower than the IPO forecast of 3.80 cents. A distribution of 1.29 Singapore cents per unit was paid on March 16 this year. The remaining DPU of 1.76 Singapore cents will be paid out on Sept 15, after books closure on Aug 19.
Gross revenue for the period was S$55.5 million, 13.1 per cent below the IPO forecast, while NPI stood at S$40.3 million, 15.6 per cent below the forecast. Kelvin Chow, chief executive officer of the manager, noted that safe distancing measures at 313@somerset may"inevitably affect footfall and tenant sales", and that the manager will continue to engage with tenants in meeting their space requirements.
He added that Sky Complex is expected to"remain stable and generate steady revenue" to the Reit, given its long lease term till 2032, assuming that Sky Italia does not exercise its break option in 2026."Alongside its triple net lease structure, Sky Complex helps to mitigate downside risks during Covid-19," Mr Chow said.
As at 10.55am on Tuesday, units in Lendlease Global Reit were trading at 62.5 Singapore cents, down 2.5 cents or 3.9 per cent.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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