BHG REIT 1H 2020 DPU Down 57%
August 10, 2020 — BHG Retail REIT announced the results of BHG Retail REIT for the half year (1H 2020) ended 30 June 2020.
BHG Retail REIT registered an amount to be distributed to Unitholders of S$4.3 million in 1H 2020; relatively lower compared to the corresponding period in the last financial period. This translated to a distribution per unit (“DPU”) of 0.89 Singapore cents, which will be paid to Unitholders on the 28 September 2020.
Due to the COVID-19, many tenants’ businesses have been adversely impacted in the first few months of the year. As a socially- responsible owner of retail malls that operate in the community space, BHG Retail REIT has offered relief arrangements such as rental rebate to qualifying tenants to help them tide over this disruption, and to reinforce our long-term partnerships.
Four of our malls (located in Beijing, Chengdu, Xining, Dalian) remained open daily in 1H 2020. Operating hours for these malls were reduced by about two hours in the first quarter 2020 (“1Q 2020”). The remaining two malls (namely, Hefei Mengchenglu and Hefei Changjiangxilu) underwent temporary closure from 7 February 2020 to 10 March 2020. This came after Hefei’s authorities’ order to close certain Hefei’s public venues temporarily (which included shopping malls).
All six malls resumed normal operating hours by the end of 1Q 2020. As at 30 June 2020, portfolio committed occupancy rate remained healthy at 92.9%, with more than 90% of stores opened.
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