Standard Stewardship Rating of Suntec REIT Remains Intact Despite Change in CEO; FVE Unchanged
Suntec Real Estate Investment Trust’s, or Suntec REIT’s, third-quarter 2018 results were largely in line with our expectations. Net property income decreased by 11.4% year over year to SGD 60.7 million on the back of a 2.5% year-over-year drop on revenue to SGD 88.8 million. Distribution per unit increased by 0.3% year over year to SGD 0.02491, while net asset value per unit declined to SGD 2.08 from SGD 2.12. The fall in revenue was mainly due to lower revenue from 177 Pacific Highway (as a res...Suntec Real Estate Investment Trust is a Singapore-domiciled unit trust that invests in income producing real estate and real estate related assets, which are used for commercial purposes. Co. is managed by an external manager, ARA Trust Management (Suntec) Limited. Co.'s subsidiaries include Comina Investment Limited and Suntec Harmony Pte. Ltd.
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