The opening of Jewel this year failed to act as a catalyst for OUE Hospitality Trust. I am expecting it to attract more tourists which can possibly give the hospitality segment a boost but it didn’t.
OUE Hospitality Trust makes up 4% of my stock portfolio. OUE Hospitality Trust has announced their 2Q2019 financial results on 6th August 2019. Net Property Income (NPI) was lower by S$1.2 million mainly due to lower gross revenue from both the hospitality and retail segments. Distribution Per Unit was 1.06 cents, 9.4% lower y-o-y, mainly due to lower income and higher interest expense.
The current gearing ratio stood at 38.5% which I felt that it is not on the high side but neither is it safe haven. The good thing is that there is no refinancing required until December 2020.
2Q2019 Financial Results 2Q2019(S$’mil) 2Q2018
(S$’mil) Change Gross Revenue 29.4 30.7 (4.4)% Net...