OUE Commercial REIT’s (OUECT) FY2020 distributions per unit (DPU) fell by 26.6% to 2.43 cents, giving an historic yield of 6.39 %. Amount for distribution for the same period rose 7.8% y-o-y to $132.8 million. In 1H2020, OUECT retained $10.8 million. Of this, $5.8 million was released in 2H2020.

In terms of segment contribution by income, 23.1% is from hospitality, 14.8% from retail and the remaining 62.1% is office. FY2020 was challenging for retail and hospitality. Hence, during 2020, OUECT extended approximately $18.3 million of rental rebates to support tenants. This excludes the $21.9 million of support from the Singapore Government comprising property tax rebates and cash grants.

SEE: OCBC positive on OUE Commercial REIT, but notes weak leasing in Mandarin Gallery

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook