SPH REIT has provided their key business and operational updates for 1QFY2021 on 13th January 2021. Gross revenue was S$66.6 million which is an increase of 10.8% year-on-year, largely attributed to Westfield Marion’s contribution of S$12.8 million. The Gross revenue from its Singapore assets decreased by 11.3% y-o-y to S$49.7m, largely attributed to the rental relief granted to assist tenants which were significantly impacted by COVID-19. Footfall and tenant sales across the malls recovered during the year-end festive period. However, Paragon which primarily traffic comes from tourists continue to be impacted by border restrictions. Suburban malls such as the Clementi Mall continue to be impacted by the work-from-home arrangements. The Gross revenue contributed by its Australian assets was S$16.9 million, an increase of S$12.8 million, driven by the acquisition of Westfield Marion in 2Q FY2020. Despite the overall increase in gross revenue, a distribution per unit (DPU) of only 1.20 cents was declared for 1Q2021. This was a decrease of 13% as compared 1.38 cents paid in1Q2020....