Guiding You On REITs

S-REITs - Week 24 - 2024

Written by REITsavvy Team | Jun 16, 2024 2:00:00 AM

Let's have a quick dive into this week REITs update from Mapletree Pan Asia Commercial, OUE REIT, Mapletree Logistic Trust, Sabana REIT, Digital Core REIT, Manulife US REIT, Starhill Global

S-REITs Recap - Week 24

10 Jun - 16 Jun 2024

Mapletree Pan Asia Commercial

( YTD: -22.29% | 5D: -3.17%)

MPACT has entered into a S$130,000,000 term loan facility 

For more information, please click here

OUE REIT

( YTD: -7.02% | 5D: +0%)

OUE REIT Completes its First Investment Grade Green Notes Issuance

  • Achieved peak order book in excess of S$475 million at initial price guidance of 4.35%

  • Offer subsequently upsized from initial target size of S$150 million to S$250 million

  • Final pricing tightened to 4.10%, representing a 25 basis points (“bps”) compression from the initial price guidance

  • Final order book was S$425 million (good at reoffer), with 74% of the final allocation going towards institutional investors

  • No refinancing requirement until second half of 2025, where only 14.4% of total debt is due post- issuance on a pro forma basis

  • Post-issuance, proportion of fixed-rate debt significantly increases from 60.0% as of 31 March 2024 to 70.6% on a pro forma basis

For further information, please click here

Digital Core REIT

( YTD: -16.28% | 5D: -5.26% )

Digital Continues to Share Buy-back this week

For further information, please click here

Mapletree Logistic Trust

( YTD: -24.14% | 5D: -1.49% )

12 June 2024 - Proposed Divestment of Mapletree Logistics Warehouse (Xian) Co., Ltd. in China

  • The sale consideration, which is subject to post-completion adjustments, is estimated to be RMB70.5 million (approximately S$13.1 million)

  • The sale consideration comprises the adjusted net asset value of the WFOE, taking into account its interest in the Property of approximately RMB70.5 million, which is 0.7% above the Property’s valuation of RMB70.0 million as at 31 March 2024, and intercompany loans granted to the WFOE.

Refer to link for full details, please click here

13 June 2024 -  Proposed Divestment Of 119 Neythal Road

  • Entered into a Purchase Agreement with an unrelated third party for the proposed divestment of 119 Neythal Road in Singapore (“the Property”) at a sale price of S$13.8 million. 

  • JTC Corporation has granted in-principle approval for the transaction subject to the parties complying with the stipulated conditions.

For further information, please click here

14 June 2024 -  Completion Of Divestment Of 30 Tuas South Avenue 8

For further information, please click here

Manulife US REIT

( YTD: -15.00% | 5D: -1.45% )

1) Change - Announcement Of Re-Designation Of Independent Non-Executive Director To Non-Independent Non-Executive Director

  • Re-Designation of Ms Veronica Julia McCann from Independent Non-Executive Director to Non-Independent Non-Executive Director.

2) Change - Announcement Of Appointment Of Professor Koh Cher Chiew Francis As Audit And Risk Committee Chair

  • Appointment of Professor Koh Cher Chiew Francis as Audit and Risk Committee Chair

Refer to link for full details, please click here

Sabana REIT

( YTD: -13.58% | 5D: +0% )

1) Tenancy Of 30 & 32 Tuas Avenue 8 Singapore 639246 & 639247

  • wishes to update unitholders of Sabana Industrial REIT (“Unitholders”) that it has, on 14 June 2024 at 4 PM, exercised its right of re-entry under the Lease Agreement in respect of the Premises, and has taken possession of the Premises

  • The Manager will actively market the Premises to seek replacement tenants

Refer to link for full details, please click here

2) Letter To Requisitionists Regarding Extraordinary General Meeting Requisition Notice

Refer to link for full details, please click here

Starhill Global REIT

( YTD: -8.57% | 5D: -1.03% )

S$50 Million Revolving Credit Facility

  • Starhill Global REIT Trustee was granted a three-year unsecured and committed revolving credit facility of S$50 million (the “Facility”) to extend the Facility for five years from 30 September 2024, subject to the conditions precedent being fulfilled.

Refer to link for full details, please click here

STI Index constituents
REITs in STI
Frasers Centrepoint Trust
18 Mar 2024
CapitaLand Ascendas REIT
CapitaLand Integrated Commercial Trust 
Frasers Logistics & Commercial Trust
Mapletree Industrial Trust
Mapletree Logistics Trust
Mapletree Pan Asia Commercial Trust
 
REITs in STI Reserve List
Keppel DC REIT
Keppel REIT
Suntec REIT
REITracker Highlights
REIT Name Status
Keppel Pacific Oak US REIT Halt Dividend since 14 Feb 2024
Manulife US REIT Halt Dividend since 14 Aug 2023
Sabana REIT Proposed Internalization is in progress since 17 Aug 2023
Lippo Malls Indonesia Retail Trust Halt Dividend since 20 Mar 2023
EC World REIT Halt Trading since 31 March 2023
Eagle Hospitality Trust Halt Trading since 24 March 2020
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