Suntec REIT (SGX: T82U) is facing the toughest stretch in its 16-year history as a listed entity. Listed back in Dec 2004, the REIT has been a steady and consistent distribution per unit (DPU) payer. From a portfolio composed purely of Singapore assets such as Suntec City and Suntec Convention Centre, the REIT has now evolved to include Australian commercial properties such as 21 Harris Street in Sydney and 55 Currie Street in Adelaide. However, the COVID-19 pandemic has badly impacted the retail and convention centre portion of the REIT’s portfolio. For the first half of 2020, gross revenue for Suntec REIT fell 16.1% year on year to S$149.4 million. The fall was mainly due to rent assistance and lower occupancy for Suntec City Mall during the circuit breaker period, as well as the closure of Suntec Convention Centre because of the pandemic. Despite this weaker performance, the REIT manager has...