Suntec REIT Posts Resilient Fourth-Quarter Result; Fair Value Estimate Increased to SGD 1.60
Suntec Real Estate Investment Trust posted a resilient fourth-quarter result despite the soft economic conditions in Singapore. Increased contribution from 177 Pacific Highway in Australia and the convention center offset softer revenue at Suntec City in the fourth quarter. Revenue was SGD 88.9 million, versus SGD 82.4 million in the prior quarter. The underlying assets performed well, with the office occupancy level steady at 99.3%, while retail saw a 40-basis-point improvement to 97.7%. Distri...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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