The manager of Ascott Residence Trust (ART) has declared a distribution per stapled security (DPS) of 1.05 cents for 1H20, down 69% from 3.43 cents in 1H19.

Distributable income (DI) fell 56% y-o-y to $32.6 million. ART says it may grant further rent deferment or waivers to support its tenants through this “challenging period”.

To mitigate the impact on distributions, however, ART has included a $5.0 million top-up in the distribution for 1H20. The eventual distribution of the retained 15% will depend on the final income for distribution based on the results for the full year ending December.

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