Resilience of Singapore Portfolio
Excluding Mapletree Anson, Singapore properties recorded a revenue growth of SGD 1 million year-on-year, led by VivoCity's robust performance despite ongoing asset enhancement initiatives.
Decreased Net Finance Expenses
Net finance expenses for Q2 were 2.6% lower at SGD 56 million year-on-year, due to repayment of borrowings from the divestment of Mapletree Anson.
Improved Aggregate Leverage Ratio
The aggregate leverage ratio improved from 40.5% to 38.4%, with a debt headroom of SGD 3.6 billion to 50%.
VivoCity Traffic and Tenant Sales
VivoCity's shopper traffic and tenant sales showed improvement in Q2, with traffic up 5.6% quarter-on-quarter.