Back 17 Jun 2025

Suntec REIT 1Q FY2025 Highlights: Income Up, Distributions Steady, Debt Structure Improving

Link: https://links.sgx.com/1.0.0/corporate-announcements/DH7WUH6T2A6VJQ89/6d736b69f7e8e38116c43941000013d2fb55b611464cc835b1a0ec2eccb6e8a8

Summary:

  • Distributable income reached S$45.9 million, marking a 4.3% increase compared to 1Q FY2024—driven by strong performance across Singapore Office, Retail, Convention, and UK assets.

  • Gross revenue grew 3.4% to S$113.5 million, while net property income rose 5.0% to S$77.1 million year-on-year.

  • Distribution per unit (DPU) increased by 3.4% to 1.563 cents, maintaining quarterly payouts to unitholders.

  • Aggregate leverage edged up to 43.4%, but average cost of debt improved to 3.96%, and fixed-rate hedging rose to ~65%, helping to stabilize interest exposure.

  • Occupancy rates remained robust: ~98% in Singapore Office/Retail, ~90.9% in Australia, and ~95.3% in UK offices.

  • Rental reversions were positive, with Singapore office showing +8.0% and retail +10.3% in new or renewed leases.

  • Management completed S$730 million refinancing, generating interest savings of around S$1.8 million annually, reinforcing capital management strength.