---
title: S-REITs - Week 25 - 2024
description: Stay updated on the latest developments in the S-REIT market with a weekly recap covering Paragon REIT, Sabana REIT, Digital Core REIT, Mapletree Logistic Trust, EC World REIT, and Keppel REITs for Week 25 of 2024.
---

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[S-REIT Weekly Recap](https://reitsavvy.com/insights/tag/s-reit-weekly-recap), [2024](https://reitsavvy.com/insights/tag/2024)

# S-REITs - Week 25 - 2024

[By- REITsavvy Team,](https://reitsavvy.com/insights/author/reitsavvy-team)

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Let's have a quick dive into this week REITs update from Paragon REIT, Sabana REIT, Digital Core REIT, Mapletree Logistic Trust, EC World REIT, Keppel REIT

**S-REITs Recap - Week 25**

**17 Jun - 23 Jun 2024**

| **Paragon RElT** |
| --- |
| **( YTD: +2.37% \| 5D: -2.26%)** |
| PARAGON REIT Announces Divestment Of The Rail Mall For S$78.5 Million The divestment aligns with the Manager’s proactive portfolio management strategy and its goal to unlock value in PARAGON REIT’s portfolio. As of December 31, 2023, the property was valued at S$62 million. The net proceeds from the sale, which amounted to S$78.5 million, will be used to reduce outstanding debt, fund potential acquisitions and asset enhancement initiatives, and/or distribute to unit holders. For more information, please click [here](https://paragonreit.listedcompany.com/newsroom/20240620_172943_SK6U_POU7POZ9PDI9RCOG.1.pdf) |

| **Sabana REIT** |
| --- |
| **( YTD: -16.05% \| 5D: -4.23%) Internalization is in progress since 17 Aug 2023** |
| 17 June - Manager Responses To Allegations In Letter From Quarz Capital Dated 14 June 2024 - The Manager response to *"LETTER FROM QUARZ CAPITAL ASIA (SINGAPORE) PTE LTD REGARDING UPCOMING ISSUANCE OF SGD100 MILLION SUSTAINABILITY-LINKED GUARANTEED BONDS DUE 2029 (“BOND ISSUANCE”)"* To read the full response click [here](https://sabana.listedcompany.com/newsroom/20240617_220529_M1GU_LECW3021SD5TA6KW.1.pdf) 18 June - Receipt Of Trustee's Statement Dated 18 June 2024 - Trustees response with its own view in relation to the Letter sent by Quarz and after the response from Sabana Manager. To read the full response click [here](https://sabana.listedcompany.com/newsroom/20240618_074825_M1GU_FFRDTSBZFA5XFCXD.1.pdf) 18 June - Proposed Issue Of S$100 Million 4.15 Per Cent Sustainability-Linked Guaranteed Bonds Due 2029 - Announce the pricing of the S$100,000,000 in aggregate principal amount of 4.15 per cent. - Sustainability-Linked Guaranteed Bonds due 2029 (the “Bonds”) to be issued by HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Sabana Industrial REIT) (the “Issuer”). 19 June - Manager's Responses To Allegations In Letter From Quarz Capital Dated 18 June 2024 - Quarz Capital issue 2nd letter after both Trustee and Manager response To read the full response click [here](https://sabana.listedcompany.com/newsroom/20240619_212814_M1GU_63CFI70MU7S46C0B.1.pdf) 19 June - Update On The Status Of The EGM Requisition - The Manager wishes to update that on 17 June 2024, it received an email response to its 14 June Manager’s Letter from the Requisitionists (the “17 June Requisitionists’ Email”) - The Requisitionists informed that they “intend to engage and discuss with the Trustee about \[sic\] the EGM to find a good solution which is beneficial and cost savings \[sic\] while also efficient for unitholders” - However, the Requisitionists did not state whether they will be withdrawing their Requisition Notice - The Requisitionists stated that they “will endeavor \[sic\] to provide \[their\] positions \[sic\] by 25th of June 2024 … (or even earlier if \[their\] discussions with the Trustee can be completed earlier)” To read the full details click [here](https://sabana.listedcompany.com/newsroom/20240619_214033_M1GU_6GMYDZJL8810SPF4.1.pdf) |

| **Digital Core REIT** |
| --- |
| **( YTD: -7.75% \| 5D: +11.21% )** |
| Digital Continues to Share Buy-back this week For further information, please click [here](https://www.digitalcorereit.com/newsroom/company-announcements/default.aspx) |

| **Mapletree Logistic Trust** |
| --- |
| **( YTD: -25.29% \| 5D: -2.26% )** |
| 19 June 2024 - Completion Of The Proposed Acquisition Of A 100.0% Interest In A Logistics Asset Located In Vietnam Through The Acquisition Of A Property Holding Company, As An Interested Person Transaction Refer to link for full details, please click [here](https://www.mapletreelogisticstrust.com/~/media/MLT/Newsroom/Announcements/2024/Jun/20240619-MLT_Combo%204-HY%201A%20Completion%20Ann.pdf) 20 June 2024 -  Completion Of The Proposed Acquisition Of A 100.0% Interest In A Logistics Asset Located In Vietnam Through The Acquisition Of A Property Holding Company, As An Interested Person Transaction Refer to link for full details, please click [here](https://www.mapletreelogisticstrust.com/~/media/MLT/Newsroom/Announcements/2024/Jun/20240620-MLT_Combo%204-MLPP3%20Completion.pdf) |

| **EC World REIT** |
| --- |
| **( YTD: -% \| 5D: +% ) Halt Trading since 31 March 2023** |
| Litigation In Relation To FIPL And Mr Zhang Guobiao - **Forchn International (FIPL) is ordered to pay the following** 1. the outstanding sum of U$11,292,053 2. the contractual default interest from the date of the originating claim to the date of the Judgment 3. the contractual default interest from the date of the Judgment to the date of payment 4. costs of S$3,944 Refer to link for full details, please click [here](https://ecwreit.listedcompany.com/newsroom/20240619_182608_BWCU_O4JDR5623XF1OXU1.1.pdf) |

| **Keppel REIT** |
| --- |
| **( YTD: -10.75% \| 5D: -1.78% )** |
| Pricing of Offering of A$175,000,000 Floating Rate Green Notes due 2027 Refer to link for full details, please click [here](https://wpcms.kepcorp.com/wm/cms-site/kcl/file/media/media-releases-sgx/2024/Jun/20-jun-kreit/keppel-reit-series-007-pricing-announcement.pdf) |

| **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 |

| **Exclusive REITsavvy Newsletter** |
| --- |

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