SINGAPORE (THE BUSINESS TIMES) - Ascott Residence Trust's (ART) distribution per stapled security (DPS) fell by 69 per cent to 1.05 cent cents for its half year ended June 30, 2020 from 3.43 cent cents a year ago.. Read more at straitstimes.com.
SINGAPORE - Ascott Residence Trust's distribution per stapled security fell by 69 per cent to 1.05 cent cents for its half year ended June 30, 2020 from 3.43 cent cents a year ago.
This was mainly attributed to the decrease in revenue of $4.2 million from the divestment of Ascott Raffles Place Singapore and Somerset West Lake Hanoi, as well as lower revenue of $91.1 million from the existing portfolio, the managers said in a regulatory filing on Tuesday . In view of the uncertainty surrounding the Covid-19 situation, ART has retained about 15 per cent, or $5 million of its income available for distribution to stapled securityholders, as rent negotiations are still ongoing and ART may grant further rental deferment and/or waivers to support some tenants through this challenging period, the managers said.
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