Paragon REIT Clarifies Revenue Figures and Acquisition Strategy

Paragon REIT (SG:SK6U) has released an update.

Paragon REIT has addressed questions from unitholders, explaining the apparent reduction in gross revenue for its Australian assets due to a shift in the financial year-end, which led to non-comparable figures. On a like-for-like basis, the portfolio’s gross revenue increased. Additionally, the REIT declined an offer to acquire The Seletar Mall, as it was not considered beneficial to unitholders, and emphasized compliance with regulatory financial ratios.

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