- Gordon Tang and Celine Tang have restructured their shareholdings and reduced their stakes to 9.9% and 9.1% respectively as of 2 Apr 25. As such, Suntec REIT will regain its MIT status and its effective tax rate for Australia will revert to 10-15% again starting 2026.
- - Read this at SGinvestors.io -
Takeover offer has lapsed.
- Aelios’ mandatory conditional cash offer to acquire Suntec REIT (SGX:T82U) at S$1.19 per unit received valid acceptances amounting to only 57.4m units, representing 1.96% of Suntec REIT.
- - Read this at SGinvestors.io -
Negative impact from loss of MIT status only in 2025.
- Gordon Tang and Celine Tang owned 13.6% and 13.7% of Suntec REIT respectively as of 10 Feb 25, breaching the 10% ownership threshold for foreign individuals. As such, Suntec REIT does not qualify as a managed investment Trust (MIT) and its Australia portfolio is subject to an effective tax rate of 45% for financial year 2025. Management estimated that the loss of MIT status would reduce DPU by 3.3%.
- Gordon Tang and Celine Tang have since restructured their shareholdings and reduced their stakes to 9.9% and 9.1% respectively as of 2 Apr 25. As such, Suntec REIT will regain its MIT status and its effective tax rate will revert to 10-15% again starting 2026.
Suntec City Mall: Benefitting from intensification of build-up in the immediate catchment area.
- Read more at SGinvestors.io.
