Highlights of Debt Profiles of SGX’s 34 REITs
To help S-REITs better compete against private capital and their foreign peers when making asset acquisitions, the MAS has indicated it is considering raising the current leverage limit of 45%. Currently, the 34 S-REITs average a debt-to-asset ratio of about 34%-35%. Based on indicative data extracted from their latest published financial statements and/or annual reports, these REITs may have the capacity to take on additional working capital of approximately S$8.3 billion and S$15.4 billion, if they boosted leverage ratios to 40% and 45% respectively. Among the 34 REITs, Parkway Life REIT has the lowest all-in debt cost.