Starhill Global Real Estate Investment Trust: Sending Election Notices Pursuant to Distribution Reinvestment Plan for Distribution Period July 1, 2021 to December 31, 2021 – Tax Exempt Income Component

Announcement SGX-ST



FROM JULY 1, 2021 TO DECEMBER 31, 2021

YTL Starhill Global REIT Management Limited, in its capacity as manager of Starhill Global Real Estate Investment Trust (“Starhill Global REIT” and as manager of Starhill Global REIT, the “Manager”), wishes to announce that following the announcements of January 25, 2022 and February 4, 2022 regarding the application of a distribution reinvestment plan (“DRP”) to the distribution of 1.78 cents per unit of Starhill Global REIT (“Unit”) for the period from July 1 2021 to December 31, 2021 (the “Distribution”), election notices1 were sent today to all eligible unitholders of Starhill Global REIT whose securities accounts with The Central Depository (Pte) Limited (“CDP”) are credited with units (“eligible unitholders”) at 5:00 p.m. February 4, 2022 (the “Date File”).

Unitholders with registered addresses outside of Singapore (“Foreign Unitholders”) who have not provided a Singapore address for service of notices and documents at CDP, 11 North Buona Vista Drive, #06-07 The Metropolis Tower 2, Singapore 138589 (or such other address as may be announced by the Manager from time to time), at least three market days2 before the record date will not receive election notices.

Eligible Unitholders who wish to participate in the DRP must complete, sign and return the election notices to the Unit Registrar of Starhill Global REIT, Boardroom Corporate & Advisory Services Pte. ltd. (the “Unit Registrar”) at 1 Harbourfront Avenue, #14-07 Keppel Bay Tower, Singapore 098632 (telephone number: +65 6536 5355) (or such other address as may be announced by the Time Manager at other) . Unitholders who wish to receive their cash distribution do not need to take any action.

Election notices must be received by the Unit Registrar by 5:00 p.m. on March 2, 2022 and cannot be withdrawn or canceled upon receipt. Election notices received after 5:00 p.m. on March 2, 2022 will not be processed.

The distribution will be paid on March 23, 2022. The new units to be issued pursuant to the DRP are expected to be issued, credited and listed on the SGX-ST on March 23, 2022. Eligible unitholders who do not elect to participate in the DRP and holders of Foreign Units who have not provided a registered Singapore address to CDP or the Unit Registrar (as applicable) will receive all of their respective cash distribution rights. Unitholders who are subject to the laws and regulations of jurisdictions other than Singapore will be deemed, by participating in the DRP, to have complied with all applicable legal and regulatory requirements of the relevant jurisdictions.

  • “Election Notice” means one or more Election Notices (in such form as the Manager may approve) which the Manager

will send, at its discretion, to each Unitholder and by which each Unitholder may indicate whether it wishes to participate in the DRIP.

  • “Market Day” means a day on which Singapore Exchange Securities Trading Limited (the “SGX-ST”) is open for trading in securities.


Unitholders who wish to participate in the DRP and who do not receive election notices within three trading days of the date of such announcement may obtain a copy from the Unit Registrar at 1 Harbourfront Avenue, #14-07 Keppel Bay Tower, Singapore 098632.

Important dates and times

Date hourEvent

Wednesday, March 2, 2022 at 5:00 p.m. Completed Notice of Election and Tax Return forms, if


applicable for participation in the DRP must be

received by the unit registrar

Wednesday, March 23, 2022

Payment for the distribution and issue, credit and listing of

the Units issued under the DRP on the SGX-ST

By order of the council

YTL Starhill Global REIT Management Limited (company registration number 200502123C)

(as manager of Starhill Global Real Estate Investment Trust)

Lam Cheekin

General secretary of the company


February 14, 2022

About Starhill Global REIT

Starhill Global REIT is a Singapore-based real estate investment trust that invests primarily in real estate used for retail and office purposes, both in Singapore and overseas. Since listing on the Mainboard of Singapore Exchange Securities Trading Limited (the “SGX-ST”) on September 20, 2005, Starhill Global REIT has expanded its initial portfolio of interests in two landmark properties on Singapore’s Orchard Road to 10 properties in Singapore, Australia, Malaysia, China and Japan, worth around S$3.0 billion.

These include interests in Wisma Atria and Ngee Ann City on Orchard Road in Singapore, Myer Center Adelaide, David Jones Building and Plaza Arcade in Adelaide and Perth, Australia, The Starhill and Lot 10 in Kuala Lumpur, Malaysia, a retail building in Chengdu, China and two properties in Tokyo, Japan. Starhill Global REIT remains focused on finding attractive real estate assets in Singapore and overseas, while driving the organic growth of its existing portfolio, through proactive leasing efforts and creative asset enhancements.

Starhill Global REIT is managed by an external manager, YTL Starhill Global REIT Management Limited, all shares of which are indirectly held by YTL Corporation Berhad.


Important Notice

The value of Starhill Global REIT units (“Units”) and the income from them can go down as well as up. The Units are not obligations, deposits or guarantees by the Manager, HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Starhill Global REIT), or any of their affiliates. An investment in Units is subject to investment risks, including possible delays in repayment, loss of income or loss of capital invested. The Manager and its affiliates do not guarantee the performance of Starhill Global REIT or the repayment of Starhill Global REIT’s capital or any particular rate of return. Unitholders do not have the right to instruct the Manager to redeem or purchase their Units while the Units are listed on the SGX-ST.

It is intended that Unitholders may only trade their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This document is provided for informational purposes only and does not constitute an invitation or an offer to acquire, purchase or subscribe for Units. Starhill Global REIT’s past performance is not indicative of Starhill Global REIT’s future performance. Similarly, the Manager’s past performance is not indicative of the Manager’s future performance.

This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, results and outcomes may differ materially from those expressed in forward-looking statements due to a number of risks, uncertainties and assumptions. Representative examples of such factors include (but are not limited to) general industry and economic conditions, infectious disease or pandemic outbreak, interest rate and bond rate trends, currency, cost of capital and availability of capital, competition from other developments or businesses, changes in expected occupancy levels, currency exchange rates, property rental income, expense recoveries, changes in operating expenses (including employee salaries, benefits, and training costs), changes in government and public policy, and the continued availability of funding in the amounts and terms necessary to support future operations. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager’s current view of future events.



Starhill Global Real Estate Investment Trust published this content on February 14, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on February 14, 2022 09:42:03 UTC.

Public now 2022


2022 sales 198M
2022 net income 98.6 million
73.4 million
73.4 million
Net debt 2022 980 million
730 million
730 million
PER 2022 ratio 13.6x
2022 return 6.65%
Capitalization 1,351 million
1,005 million
1,005 million
EV / Sales 2022 11.8x
EV / Sales 2023 11.4x
# of employees 31
Floating 62.1%


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Average Spread / Target 11.3%