---
title: S-REITs - Week 26 - 2024
description: Stay updated on the latest developments in the S-REIT market with our weekly recap. Dive into updates from Manulife US REIT, Keppel DC REIT, and more.
---

[Skip to content](https://reitsavvy.com/insights/s-reits-week26-2024#main-content)

[![op can-4](https://reitsavvy.com/hs-fs/hubfs/op%20can-4.png?width=7114&height=2442&name=op%20can-4.png)](https://reitsavvy.com/)

![menu-toggle](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-toggle.svg)

![menu-close](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-close.svg)

![menu-toggle](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-toggle.svg)

![menu-close](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-close.svg)

- [Home](https://reitsavvy.com)
- [What's a REIT](https://reitsavvy.com/what-is-reits)
- [S-REITs Overview](https://reitsavvy.com/s-reits-overview)
- [REITsavvy Subscription](https://reitsavvy.com/reits-screener)
- [REITsavvy Screener Login](https://screener.reitsavvy.com/)
- [REITsavvy Insights](https://reitsavvy.com/insights)
- [Events](https://reitsavvy.com/events)
- [About Us](https://reitsavvy.com/about-us)

- [Home](https://reitsavvy.com)
- [What's a REIT](https://reitsavvy.com/what-is-reits)
- [S-REITs Overview](https://reitsavvy.com/s-reits-overview)
- [REITsavvy Subscription](https://reitsavvy.com/reits-screener)
- [REITsavvy Screener Login](https://screener.reitsavvy.com/)
- [REITsavvy Insights](https://reitsavvy.com/insights)
- [Events](https://reitsavvy.com/events)
- [About Us](https://reitsavvy.com/about-us)

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

# S-REITs - Week 26 - 2024

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

![Weekly_Banner](https://reitsavvy.com/hs-fs/hubfs/Others/Generic/Weekly_Banner.png?width=762&height=278&name=Weekly_Banner.png)

Let's have a quick dive into this week REITs update from Manulife US REIT, Keppel DC REIT, Lippo Mall Indonesia REIT, Sabana REIT, Digital Core REIT, Keppel REIT, IREIT Global, Aims APAC REIT, Fraser Centrepoint Trust

**S-REITs Recap - Week 26**

**24 Jun - 30 Jun 2024**

| **Manulife US REIT** |
| --- |
| **( YTD: -20.00% \| 5D: -3.03%)** |
| 25 June -  Qualified Notice On Non-Applicability Of US Withholding Tax Under Section 1446(f) Of United States Internal Revenue Code Manulife US REIT has provided a Qualified Notice effective 30 June 2024 on its website (https://investor.manulifeusreit.sg/tax.html#notices), indicating that it is not engaged in a US trade or business and that no withholding is required. The Qualified Notice will be valid for a 92-day period and a new Qualified Notice will be issued quarterly. For more information, please click [here](https://investor.manulifeusreit.sg/newsroom/20240625_070820_BTOU_SZI3A7SKHBWNUUD7.1.pdf) 28 June - Update On Appointments Regulatory approvals have been obtained for both Mr John Anthony Casasante and Mr Mushtaque Muhammad Ali for their respective appointments, and the appointments will take effect from 30 June 2024. Chief Executive Officer & Chief Investment Officer: Mr John Anthony Casasante Chief Financial Officer: Mr Mushtaque Muhammad Ali For more information, please click [here](https://investor.manulifeusreit.sg/newsroom/20240628_071834_BTOU_RJV3WZ5SZFFB24NJ.1.pdf) |

| **Keppel DC REIT** |
| --- |
| **( YTD: -7.69% \| 5D: +1.69%)** |
| 25 June - Announcement on Completion of Divestment and Note Subscription Completion of: (1) divestment of property known as intellicentre campus located at 17-23 Talavera road, Macquarie Park, new south wales 2113, Australia; and (2) subscription into Australia data centre note issued by an entity holding data centres To read the full details click [here](https://wpcms.kepcorp.com/wm/cms-site/kcl/file/media/media-releases-sgx/2024/Jun/25-jun-kdcreit/kdcreit-completion-announcement.pdf) |

| **Digital Core REIT** |
| --- |
| **( YTD: -11.63% \| 5D: -4.20% )** |
| Digital Continues to Share Buy-back this week For further information, please click [here](https://www.digitalcorereit.com/newsroom/company-announcements/default.aspx) |

| **Lippo Malls  Indonesia Trust** |
| --- |
| **( YTD: -17.65% \| 5D: +16.67% )** **Halt Dividend since 20 Mar 2023** |
| 25 June - Update On Aggregate Leverage Ratio - The Manager estimates that the aggregate leverage ratio of LMIR Trust is approximately between 45.0% to 45.2%. - It will exceeds the applicable aggregate leverage limit of 45.0% for LMIR Trust as set out in Appendix 6 of the Code on Collective Investment Schemes (the “Property Funds Appendix”) compared to the aggregate leverage ratio of 43.7% as at 31 March 2024 as disclosed by the Manager on 26 April 2024. Refer to link for full details, please click [here](https://lmir.listedcompany.com/newsroom/20240625_065110_D5IU_MUKDFYPHFK660KR9.1.pdf) 27 June - Amendment To The Term Loan Facility Up To IDR 2,500,000,000,000 Refer to link for full details, please click [here](https://lmir.listedcompany.com/newsroom/20240627_075936_D5IU_41FH4CY6MUB7WE99.1.pdf) 27 June - Commencement Of Tender Offer By LMIRT Capital Pte. Ltd. In Connection With The Outstanding 7.500% Senior Notes Due 2026 - the USD 200,000,000 7.500% Senior Notes Due 2026 (the “2026 Notes”) issued by the Company on 9 February 2021 pursuant to an indenture dated 9 February 2021 (as amended and supplemented by the first supplemental indenture dated 28 December 2023, the “Indenture”) - the USD 17,630,000 7.500% Senior Notes Due 2026 (the “Exchange Notes”) issued by the Company on 28 May 2024 pursuant to the Indenture - the USD 16,200,000 7.500% Senior Notes Due 2026 (the “Tap Notes” and, together with the 2026 Notes and the Exchange Notes, the “Notes”) issued by the Company on 12 June 2024 pursuant to the Indenture. Refer to link for full details, please click [here](https://lmir.listedcompany.com/newsroom/20240627_075956_D5IU_TLK7AU0C410Z1VXG.1.pdf) |

| **Sabana REIT** |
| --- |
| **( YTD: -18.52% \| 5D: -2.94% ) Proposed Internalization is in progress since 17 Aug 2023** |
| 25 June - Issue Of S$100 Million 4.15 Per Cent Sustainability-Linked Guaranteed Bonds Due 2029 HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Sabana Industrial REIT) (the “Issuer”) has today issued S$100,000,000 in aggregate principal amount of 4.15 per cent. Sustainability-Linked Guaranteed Bonds due 2029 (the “Bonds”), unconditionally and irrevocably guaranteed by Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (the “Guarantor”). Refer to link for full details, please click [here](https://sabana.listedcompany.com/newsroom/20240625_172552_M1GU_WH4CPTS72TZ3D38P.1.pdf) |

| **Keppel REIT** |
| --- |
| **( YTD: -10.22% \| 5D: +0.60% )** |
| 26 June - Issue 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/26-jun-kreit/keppel-reit-series-007-closing-announcement.pdf) |

| **IREIT Global** |
| --- |
| **( YTD: -30.86% \| 5D: -11.11% )** |
| 24 June - Update Regarding Berlin Campus - the Manager plans to proceed with the proposed repositioning of the Property under “Project RE:O” after DRV vacates the premises - Under the Manager’s current plans, it is proposed to convert the Property into a functional mixed-used urban precinct - The precinct would be designed to offer maximum flexibility in terms of use types to cater to a range of tenant requirements - Current potential uses of the repositioned space could include office space, hospitality space, retail, conference facilities and health/wellness Refer to link for full details, please click [here](https://investor.ireitglobal.com/newsroom/20240624_071253_UD1U_VFGU75S8Z1KKT5SQ.1.pdf) |

| **Aims APAC REIT** |
| --- |
| **( YTD: -3.85% \| 5D: -0.79% )** |
| 27 June - FY2024 Key Highlights - **Financial Performance** - Gross Revenue **+5.9% YoY** - Net Property Income **+6.9% YoY** - Distributions to Unitholders **+3.8% YoY** - **Balance Sheet** - Gearing **32.6%** - Debt on Fixed Rates **75%** - Interest Cover Ratio **4.1x** - **Asset Management** - Occupancy **97.8%** - Rental Reversion **+24.3%** - Weighted Average Lease Expiry **5.1 years** - **Sustainability Highlights** - Achieved **17% Carbon Reduction** from FY2020 baseline - **Completed Installation Phase 1 Rooftop Solar Panels** at 6 properties - Executed agreement to **install EV Fast Charging Station** at 4 of our properties in Singapore Refer to link for full details, please click [here](https://investor.aimsapacreit.com/newsroom/20240627_071307_O5RU_X8O8233BO8P6P428.1.pdf) |

| **Fraser Centrepoint Trust** |
| --- |
| **( YTD: -5.75% \| 5D: +0.00% )** |
| 27 June - Appoints new CFO - - Ms Annie Khung Shyang Lee, has been appointed as Chief Financial Officer (“CFO”) of the Manager - Ms Khung will officially commence her duties as CFO, with effect from 9 August 2024, succeeding Ms Audrey Tan, who is stepping down and will complete her tenure on 8 August 2024. Refer to link for full details, please click [here](https://fct.frasersproperty.com/newsroom/FCT_-_Press_Release270624.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** |
| --- |

##### Gain financial insights on REITs in minutes

The newsletter that keeps you up-to-date on REITs in minutes.

 

![op can-4](https://reitsavvy.com/hubfs/op%20can-4.png)

**[Insights](https://reitsavvy.com/insights)**

**[REITs Screener](https://screener.reitsavvy.com/)**

Unless otherwise specified, all return figures shown above are for illustrative purposes only, are not actual customer or model returns and are not indicative of future performance or results. Actual returns will vary greatly and depend on various factors including personal and market circumstances. Investment involves risk. It is important to note that the capital value of investments and the income from them may go down as well as up and may become valueless. Some of the statements contained in this website may be considered forward-looking statements which provide current expectations or forecasts of future events. There is no assurance that the conditions described in this website will remain in the future and actual results may differ materially. This website is for information purposes only and is not and should not be construed as an offer or the solicitation of an offer or a recommendation for the purchase or sale of any investment or subscribe for, or to participate in, any services. The information contained within this website has not been reviewed in the light of your personal circumstances. You should carefully consider whether any investment views and investment products/services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances or seek financial advice.

All advertisements on the website have not been reviewed by the Monetary Authority of Singapore. Any notification from the REITsavvy application is not a product advertisement that has been reviewed by the Monetary Authority of Singapore. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Copyright © 2023-2024 REITsavvy. All Rights Reserved.

[Disclaimer & Privacy Policy |](https://reitsavvy.com/disclaimer-and-privacy-policy) [Terms of Service](https://reitsavvy.com/terms-of-service)

```json
{
  "@context" : "https://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "REITsavvy Team",
    "url" : "https://reitsavvy.com/insights/author/reitsavvy-team"
  },
  "dateModified" : "2024-06-30T02:00:00.464Z",
  "datePublished" : "2024-06-30T02:00:00.000Z",
  "headline" : "S-REITs - Week 26 - 2024",
  "mainEntityOfPage" : {
    "@id" : "https://reitsavvy.com/insights/s-reits-week26-2024",
    "@type" : "WebPage"
  },
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject"
    }
  }
}
```