PETALING JAYA: Starhill Real Estate Investment Trust (Starhil REIT) announced a final income distribution of 3.62 sen per unit for the six-month period from January 1 till June 30.
The total payout amount translates to RM48mil. For the six-months ended Dec 31, Starhill REIT had paid out a 4.01 sen interim dividend. In total, its income distribution for its financial year ended June 30, 2012 stands at 7.63 sen per unit, compared to 6.49 sen per unit in the previous year.
“The completion this financial year of the rebranding exercise to transform the trust into a pure-play hospitality REIT marks a turning point. Starhill REIT’s property portfolio has now been fully rationalised to focus on prime, yield-accretive hotel and hospitality-related assets. This has enabled us to achieve a 32% increase in the total income distribution from the trust to RM101.1mil, compared to RM76.5mil last year, and a 17.7% increase in the distribution per unit,” Tan Sri Francis Yeoh said in a statement yesterday.
Yeoh is the chief executive officer of Pintar Projek Sdn Bhd, which is the manager of Starhill REIT. Under the rationalisation exercise, Starhill REIT acquired Pangkor Laut, Tanjong Jara and Cameron Highlands resorts, the Vistana chain of hotels, The Ritz-Carlton in Kuala Lumpur, the remainder of The Residences at The Ritz-Carlton in Kuala Lumpur not already owned by the trust, and the Hilton Niseko in Japan.
By The Star
Friday, July 13, 2012
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