T Tower, a freehold 28 storey office building in Jung-gu, Seoul, South Korea owned 99.4% by Keppel Reit Keppel Reit (SGX: K71U) reported its 2Q 2020 Results on 20 July 2020. Key Highlights: a. Net property income declined 7.2% b. Distribution income increased 0.4% due to capital gains of $5m c. DPU for 2Q inched up 0.7% to 1.4 cents Year-on-Year d. Gearing ratio is at 36.3% and all-in interest rate reduced to 2.48% per annum e. Occupancy rate is high at 98.6% f. Commencement of 30-year lease for Victoria Police headquarters at 311 Spencer Street, Melbourne Source: Keppel Reit 2Q Results Announcement The acquisition of T Tower, Seoul in Apr 2019 helps to cushion the impact of income loss for the sale of Bugis Junction Towers in Nov 2019. The support measures by Singapore Government help to cushion the impact of Covid-19 health pandemic on the property income as 4.7% of local tenants have received...