By ANGELA TAN
Suntec Real Estate Investment Trust said its second-quarter distribution per unit was 2.528 Singapore cents, down 15 per cent from 2.977 Singapore cents a year ago.
Gross revenue achieved for the quarter ended 30 June 2010 was S$62.4 million, a decline of S$2.1 million or 3.3 per cent over the quarter ended 30 June 2009.
Net property income for the quarter was S$47.4 million, a decline of S$1.4 million or 2.8 per cent year-on-year, and the income available for distribution of S$45.9 million was S$1.8 million or 3.7 per cent lower year-on-year.
The decline in gross revenue was due to the lower office and retail revenue achieved during the quarter.
Suntec Reit expects the challenges of the office and retail sectors to continue in spite of the signs of positive recovery in both sectors.
