The managers of the trust announced on Wednesday that net property income for the first quarter ended March declined 8.3% year-on-year to S23 million, down from S25.1 million in Q1 FY2024.

Revenue for Q1 FY2025 also fell by 6.8% to S25.2 million, compared to S27.1 million in the same period last year. The decrease was primarily attributed to lower master lease revenue from hotels and serviced residences, as this year lacked major events that had boosted earnings in the previous year.

Meanwhile, the stapled securities of FEHT closed at S0.555 on Tuesday, up0.90.005 from the previous session.