Equity Analysis /
Singapore

SG : Starhill Global REIT - More room for recovery

    Munyee Lock
    Munyee Lock

    Head of Regional Property

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    CGS-CIMB
    2 August 2022
    Published byCGS-CIMB

    2H/FY22 DPU of 2.02/3.80 Scts beat estimates at 57%/108% of our FY22F. Weaker retail occupancy was mitigated by stronger office leasing. Reiterate Add. Recovery in tenant sales should lift tenant retailer sentiment.