April 28, 2020 / 2:14 PM / a month ago

BRIEF-Starhill Global REIT Posts Q3 Net Property Income Of S$35.2 Mln

April 28 (Reuters) - Starhill Global Real Estate Investment Trust:

* Q3 NET PROPERTY INCOME S$35.2 MILLION VERSUS S$39.6 MILLION

* ANNOUNCED CHANGE OF DISTRIBUTION FREQUENCY TO SEMI-ANNUAL FROM CURRENT QUARTERLY DISTRIBUTIONS FROM 3Q

* TENANT SALES & SHOPPER TRAFFIC EXPECTED TO DECLINE SUBSTANTIALLY IN NEXT QUARTER

* TENANT SALES AND SHOPPER TRAFFIC ARE EXPECTED TO DECLINE SUBSTANTIALLY IN NEXT QUARTER

* DELAYING NON-ESSENTIAL CAPITAL EXPENDITURES FOR SGREIT

* REDUCING 10% OF BASE MANAGEMENT FEES PAYABLE BY SGREIT FOR NEXT THREE MONTHS

* COVID-19 EXPECTED TO HAVE SIGNIFICANT ADVERSE IMPACT ON FINANCIAL PERFORMANCE FOR REMAINING FY

* RENTAL PAYMENTS OF AFFECTED TENANTS MAY POTENTIALLY BE DEFERRED IN SINGAPORE DURING CIRCUIT BREAKER PERIOD

* COVID-19 EXPECTED TO HAVE ADVERSE IMPACT ON INCOME FOR DISTRIBUTION & CASHFLOW FOR REMAINING FY Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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