Suntec REIT (SGC:T82U) announced on Thursday morning a distributable income for quarter ended 30 September of S$52.2 million, a drop of 12.6% year-on-year, and distribution per unit (DPU) of 1.848 cents. For 3Q 2020, Suntec REIT’s Gross Revenue declined 13.4% to S$79.6 million while it’s Net Property Income dropped 19% to 47.3% year-on-year, as Covid-19 continued to affect both the convention and retail business. Decrease in distributable income was due to rent assistance granted to tenants at Suntec City Mall, Marina Bay Link Mall and Southgate Complex Retail and the absence of contribution from Suntec Singapore and a one-off compensation received at MBFC Properties in 3Q 2019. This decline was mitigated by the better performance of the Australia office portfolio and One Raffles Quay, as well as lower financing costs. “There are encouraging signs of recovery in our retail business in 3Q 2020 as tenant sales recovery at Suntec...