Starhill Global REIT’s NPI jumps 7.6% YoY to $75.1m in FY21/22

The cessation of rental rebates in Malaysia contributed to the increase.

Starhill Global REIT’s (SGREIT) net property income jumped 7.6% YoY to $75.1m in the second half of FY20/21.

In an announcement, the SGREIT’s manager said the increase in NPI was due to the “cessation of rental rebates in Malaysia and lower operating expenses.

The increase, however, was partially offset by the lower rental contribution from Wisma Atria Property and the depreciation of the Australian dollar against the Singapore dollar.

With increased NPI, the REIT’s distributable income for 2H FY21/22 also rose 4.9% YoY to $47.1m, whilst distribution per unit (DPU) increased 8.6% YoY to $0.0202.

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