BHG Retail Reit H1 DPU falls 12% on lower revenue, forex impact

BHG Retail Reit reported a 12% decline in distribution per unit (DPU) to S$0.0022 for H1, with gross revenue falling 10% to S$28.1 million. The drop is attributed to the weakening renminbi, lower occupancy rates, and rental support in Dalian and Xining. Net property income decreased 16.1% to S$15 million. The Reit maintains a 95.1% occupancy rate and a gearing ratio of 41.7%. CEO Chan Iz-Lynn highlighted long-term growth prospects due to China's recovery and plans for strategic tenant mixes and acquisitions. Units closed at S$0.425, down 1.2% before the results were announced.