Basic Profile & Key Statistics
Starhill Global REIT (SGREIT) invests in Retail and Office properties which currently owns 10 properties across Singapore, Malaysia, Australia, Japan and China.
Quarter Performance Review
Gross revenue and NPI decreased by 10.3% YoY and 19.2% YoY. There is no distributable information provided.
Tenants' Sales reduced by 33.5% YoY despite all higher reduction of 54.4% in shopper traffic.
AEI for The Starhill is delayed and expected to delayed to December 2021.
Lease Profile
Occupancy is healthy at 96.6%. WALE is long at 5.5 years where the highest lease expiry of 53.5% falls in FY23/24 and beyond, without breakdown. Weighted average land lease expiry is moderate at 62.19 years.
Debt Profile
Gearing ratio is slightly high at 39.1%. Cost of debt is high at 3.3% with a moderate level of 75.6% unsecured debt. Fixed rate debt % is high at 89%. Interest cover ratio is low at 2.6 times. WADE is short at 2.5 years where the highest debt maturity of 32% falls in FY22/23....