Basic Profile & Key Statistics Sasseur REIT (Sasseur) invests in retail properties in China, it currently owns 4 outlet malls.
Performance Review EMA rental income increased YoY by 2.5%. Whereas distributable income and DPU increased YoY by 19.7% and 18.8% due to strengthened RMB against SGD, lower interest expenses and lower tax expenses.
Tenant sales decreased by 9.3% YoY, but increased by 12.2% QoQ.
The AEI in Chongqing outlets showed improvement in floor area and efficiency in which 44 new brands were brought in. AEI for Hefei outlets has completed.
Related Parties Shareholding
REIT sponsor’s shareholding is high at 57.41%REIT manager’s shareholding is moderate at 1.43%Directors of REIT manager’s shareholding are high at 58.28%
Occupancy is moderate at 93.5%All income is received in RMBWALE is short at 1.1 yearsHighest lease expiry within 5 years is high at 80.7% which falls in this yearWeighted average land lease expiry is short at 29.82