In 2021, CapitaLand privatised its development business, leaving CapitaLand Investment (CLI) as the sponsor of its four REITs and two property trusts. Of these six vehicles, five are listed in Singapore. Among them are Singapore’s largest and Asia Pacific’s third-largest REIT, CapitaLand Integra...

Singapore REITs command a significant presence in the Singapore stock market. Representing more than 10% of the total market value of Singapore-listed stocks, and more than 20% of the day-to-day turnover, these are considerably higher levels than what REITs maintain on a global scale. Colloquially k...

Much has been said about the prospects of going overseas, less about its challenges. The challenges of going overseas were recently highlighted in the proposed privatisation of Frasers Hospitality Trust by a unit of its sponsor, Frasers Property (FPL).FHT’s manager cites three reasons for privatis...

Sometimes distributions in specie are viewed in a less favourable light. Why would a company divest its assets to its shareholders? Whatever the reason, the company announcing the divestment usually experiences a short-term bounce. Will this last?On Aug 12, Pacific Century Regional Developments (PCR...

CapitaLand Mall Trust (CMT), now known as CapitaLand Integrated Commercial Trust or CICT, headed into unknown territory as it made its trading debut on the Singapore Exchange on July 17, 2002, as Singapore’s very first REIT. CMT started with three malls, Junction 8, Tampines Mall and Funan, which ...

On May 23, unitholders of Mapletree Commercial Trust (MCT) voted overwhelmingly in an extraordinary resolution to change its fee structure to that of Mapletree North Asia Commercial Trust (MNACT), which MCT is acquiring. MCT’s current fee structure constitutes a base fee of 0.25% per annum of the ...

The manager of CapitaLand Integrated Commercial Trust Management (CICT) has entered into several agreements on April 18 pertaining to its properties, Tampines Mall, Raffles City Singapore and Asia Square Tower 2.The agreements were entered with SP Sustainability & Engineering, SembWaste and Real...

Missteps along the wayThat CLI has managed to outperform the Straits Times Index and other real estate-based companies, including developers, is a credit to the foresight of its current management team. It was not always like this.In 2014, CapitaLand divested Australand which was focused on logistic...

Singapore has a reputation as a leading REIT hub. But with 11 other REIT markets in the region and recent first REIT listings emerging in India, the Philippines and China, can the city-state stay attractive to sponsors? Experts tell The Edge Singapore it certainly looks that way. Jonathan Yap, CEO, ...

Eng-Kwok Seat Moey, managing director and head of DBS Bank’s capital markets business, has a wish list for S-REITs on the 20th anniversary of the IPO of the very first REIT in Singapore, CapitaLand Mall Trust (CMT). Eng-Kwok, who is also called “the mother of S-REITs” because of her pivotal ro...

Real estate investment trust (REIT) and property developers form a staple feature of the Singapore dollar (SGD) corporate credit market with $27.5 billion of bonds and perpetuals outstanding in total, rep­resenting around 26% of the market (excluding government bonds and statutory boards). Given t...

The manager of CapitaLand Integrated Commercial Trust (CICT) has reported a distribution per unit (DPU) of 5.22 cents for the 2HFY2021 ended December, 8.9% lower y-o-y. This brings the DPU for the FY2021 to 10.40 cents, 19.7% higher y-o-y. Distributable income for the 2HFY2021, however, grew 30.5% y...

2021 was a stand-out year for the Singapore corporate bond market. Issuances hit a nine-year high with total issuances of $25.3 billion on the back of a stronger macroeconomic outlook and deep liquidity in the market. It is understandable that most companies have yet to recover their pre-pandemic pr...

On Jan 3 and 4, the first two trading sessions following the announcement that Mapletree Commercial Trust’s (MCT) and Mapletree North Asia Commercial Trust (MNACT) planned a merger to create Mapletree Pan Asia Commercial Trust (MPACT), MCT’s unit price dived some 8% in two days before stabilisin...

Since REITs began listing in Singapore in 2002, they have experienced at least one Great Recession following the Global Financial crisis of 2008-2009 and one pandemic, which we are still fighting against. Yet, over the two decades, REITs have delivered some of the best gains compared to other asset ...