Business
Link Real Estate Investment Trust : Announces Annual Results, Back to Basics, and a Focus on Unitholders
Link Real Estate Investment Trust : Announces Annual Results, Back to Basics, and a Focus on
About this update from Link Real Estate Investment Trust
[{"type":"text","content":"\n Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT, stock code: 823), has today announced annual results for Link REIT for the year ended 31 March 2026.\n Duncan Owen, Chair, said:\n \n \n \"We have been listening carefully and reflecting on the views of our Unitholders and other stakeholders. Our response has been to go back to basics with a focus on our key competitive advantages as owners and operators of retail malls and car parks in APAC. Our immediate focus is now reinvigorating the existing core portfolio, divesting of non-core assets and buying back units where pricing is attractive to drive unitholder returns.\"\n Ng Kok Siong, Executive Director and Chief Financial Officer, said:\n \n \n \"We responded to headwinds by focusing on disciplined cost control and proactive capital management. By optimising our costs in anticipation of rebased rental levels, we have been able to provide some protection to Unitholder returns. We maintained a robust balance sheet, conservative gearing and strong liquidity, underpinned by diversified funding sources and effective interest rate management. These fundamentals are critical as we continue to position the business for both resilience and future success.\"\n John Saunders, Executive Director and Chief Investment Officer, said:\n \n \n \"Since taking up the leadership of Link on 1 January, Ng Kok Siong and I have refocused the strategy on going back to basics. This means ensuring that our malls continue to meet the needs of the communities that they serve, and we have a number of initiatives aimed at enhancing the competitiveness of our core retail and car park assets and responding to structural changes including e-commerce. In terms of capital allocation, it is also about back to basics and focusing on our cost of capital. Around 5-10% of our overall portfolio is considered non-core and we are undertaking a thoughtful process to divest such assets at an appropriate time. If capital is deemed surplus to near-term requirements and our unit price is at an attractive valuation, we will buy back units to drive Unitholder returns. We will also be allocating some of the capital from sales towards investment in our core mall portfolio.\"\n Financial Highlights\n \n Revenue and NPI decreased by 2.0% and 3.7%, to $13,938 million and $10,230 mi...