S-REITs - Week 47 - 2023

APPOINTMENT OF CHIEF FINANCIAL OFFICER

Appointment of Mr Tong Meng Chong, Michael as its Chief Financial Officer (“CFO”) with effect from 23 November 2023. Mr Tong succeeds Mr Joel Cheah Zhuo Yue who resigned as CFO on 10 August 2023 to pursue other opportunities.

Mr Tong has more than 10 years of experience in financial reporting, financial planning and analysis, project finance, consolidation, taxation, and compliance. Prior to joining Elite REIT, Mr Tong was employed with Lendlease and was the General Manager Finance, Asia, where his core responsibilities included regional reporting, financial accounting, compliance, annual budgeting, and quarterly forecasting.

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ENTRY INTO SUSTAINABILITY-LINKED LOAN FACILITY

Suntec REIT has entered into a S$500,000,000 facility agreement (the “Sustainability-Linked Loan Facility”) with various banks to refinance part of its outstanding borrowings and/or for general working capital purposes (including payment of fees in relation to the facility granted under the Sustainability-Linked Loan Facility).

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S$50 MILLION REVOLVING CREDIT FACILITY

The REIT has today entered into a facility agreement (the “Facility Agreement”) with DBS Bank Ltd., as lender (the “Lender”) for a five year unsecured sustainability-linked multicurrency revolving credit facility of S$50 million (the “Facility”), which will replace its existing revolving credit facility with the Lender of the same amount expiring in June 2024.

For further information, please click here

( YTD: -7.22% )

PAYMENT OF MANAGEMENT FEES (BASE FEE) BY WAY OF ISSUE OF UNITS IN PARAGON REIT AND CASH

The Board of Directors of PARAGON REIT Management Pte. Ltd., as manager of PARAGON REIT (the “Manager”), wishes to announce that it has elected to receive 50% of the base fee component of the management fee for the period from 1 July 2023 to 30 September 2023 in the form of units in PARAGON REIT (the “Base Fee”). The balance of the Base Fee will be paid to the Manager in cash.

For further information, please click here

Listen to Kenny's Previous Podcast on Money FM 89.3 on 8 Nov 2023. The upcoming session will be on 5th Dec 202, 10 am.