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8 things I learned from the 2021 Suntec REIT AGM
By The Fifth Person  •  April 23, 2021
Suntec REIT owns a portfolio of properties which include retail malls and office buildings located in Singapore, Australia, and the United Kingdom. As of 30 December 2019, its portfolio was valued at S$10.4 billion. Suntec REIT gross revenue and net property income (NPI) have generally been on an uptrend since 2014. However, the REIT’s distribution per unit (DPU) has dropped from 10.005 cents in 2017 to 9.507 cents in 2019. As a result, Suntec REIT’s unit price has been trending sideways over the last few years. As a long-time unitholder myself, I attended Suntec REIT’s recent AGM to learn more about the management’s plans to reboot the REIT’s performance and navigate the tough times ahead. Here are eight things I learned from the 2021 Suntec REIT AGM: 1. Gross revenue fell 14% year-on-year to S$315.4 million in FY2020 from S$366.7 million in FY2019. Likewise, NPI fell 15.4% y-o-y to S$199.9...
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By The Fifth Person
The Fifth Person believes in spreading a message that financial literacy and sound investment knowledge can help people around the world achieve financial independence and lead better lives for themselves and their loved ones.
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