The opening of Jewel this year failed to act as a catalyst for OUE Hospitality Trust. I am expecting it to attract more tourists which can possibly give the hospitality segment a boost but it didn’t.
OUE Hospitality Trust makes up 4% of my stock portfolio. OUE Hospitality Trust has announced their 2Q2019 financial results on 6th August 2019. Net Property Income (NPI) was lower by S$1.2 million mainly due to lower gross revenue from both the hospitality and retail segments. Distribution Per Unit was 1.06 cents, 9.4% lower y-o-y, mainly due to lower income and higher interest expense.
The current gearing ratio stood at 38.5% which I felt that it is not on the high side but neither is it safe haven. The good thing is that there is no refinancing required until December 2020. Read More