Dealing, Product Financing and Custody Services, Tickrs

Tickrs

Dealing, Product Financing and Custody Services

Tickrs Financial Singapore Pte Ltd (TFS) obtained Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS) in 2022. Product offering include stock trading services across 10 global markets, futures trading, fixed income and wealth management products offering.

Thematic (Sector/Industry)

<ul><li>This publication highlights 10 Singapore-listed REITs we believe are best positioned for mid- to long- term investors.</li><li>The portfolio balances stability with growth: defensive anchors in healthcare and core commercial REITs, complemented by data-centre, logistics, and hospitality names benefiting from secular digitalisation and tourism trends.</li><li>We forecast ~6% forward yield across the basket, plus mid- single-digit DPU growth as the interest-rate cycle stabilises.</li></ul>

This publication highlights 10 Singapore-listed REITs we believe are best positioned for mid- to long- term investors.The portfolio balances stability with growth: defensive anchors in healthcare and core commercial REITs, complemented by data-centre, logistics, and hospitality names benefiting from secular digitalisation and tourism trends.We forecast ~6% forward yield across the basket, plus mid- single-digit DPU growth as the interest-rate cycle stabilises.

Singapore REITS : TOP 10 S-REITS for Mid & Long-Term Investment

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

<ul><li><a href="https://www.smartkarma.com/entities/ascendas-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:39" rel="noopener">Ascendas Real Estate Investment Trust (AREIT SP)</a> to acquire a cold storage logistics facility in Singapore for S$191.9m; DPU accretion by +0.56%</li><li><a href="https://www.smartkarma.com/entities/parkway-life-reit" target="_blank" data-smartkarma-citation="entities:13422" rel="noopener">Parkway Life REIT (PREIT SP)</a> acquires 3 Hokkaido nursing homes for ~S$26.1m; No material impact to DPU</li><li>Recent suburban launches seen strong sales despite economic headwinds</li></ul>

Ascendas Real Estate Investment Trust (AREIT SP) to acquire a cold storage logistics facility in Singapore for S$191.9m; DPU accretion by +0.56%Parkway Life REIT (PREIT SP) acquires 3 Hokkaido nursing homes for ~S$26.1m; No material impact to DPURecent suburban launches seen strong sales despite economic headwinds

ASEAN Builder's Scoop (14Sep22) - AREIT Buys SG Cold Storage Facility, +0.56% DPU Accretion

<ul><li><a href="https://www.smartkarma.com/entities/frasers-logistics-commercial-trust" target="_blank" data-smartkarma-citation="entities:22748" rel="noopener">Frasers Logistics &amp; Commercial Trust (FLT SP)</a> 3Q22 Business Updates – Robust reversions and steady occupancy</li><li><a href="https://www.smartkarma.com/entities/elite-commercial-reit" target="_blank" data-smartkarma-citation="entities:28807" rel="noopener">Elite Commercial REIT (ELITE SP)</a> 1H22 DPU -2.7% YoY; Higher mid-year portfolio valuation despite declining occupancy</li><li><a href="https://www.smartkarma.com/entities/ascendas-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:39" rel="noopener">Ascendas Real Estate Investment Trust (AREIT SP)</a> to acquire Philips APAC Center in Singapore for S$104.8m; DPU accretive by +0.3%</li></ul>

Frasers Logistics &amp; Commercial Trust (FLT SP) 3Q22 Business Updates – Robust reversions and steady occupancyElite Commercial REIT (ELITE SP) 1H22 DPU -2.7% YoY; Higher mid-year portfolio valuation despite declining occupancyAscendas Real Estate Investment Trust (AREIT SP) to acquire Philips APAC Center in Singapore for S$104.8m; DPU accretive by +0.3%

ASEAN Builder's Scoop (5Aug22) - FLT Robust Reversions +ve Surprise

<ul><li><a href="https://www.smartkarma.com/entities/ascendas-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:39" rel="noopener">Ascendas Real Estate Investment Trust (AREIT SP)</a> 1H22 DPU +2.8% YoY; Robust reversions and rising occupancies in all markets</li><li><a href="https://www.smartkarma.com/entities/daiwa-house-logistics-trust" target="_blank" data-smartkarma-citation="entities:35020" rel="noopener">Daiwa House Logistics Trust (DHLT SP)</a> 1H22 DPU flat vs IPO forecast; Steady as she goes with no refinancing risk until FY24</li><li>Strata office deals down 21% HoH, while retail up 8.8% in 1H22</li></ul>

Ascendas Real Estate Investment Trust (AREIT SP) 1H22 DPU +2.8% YoY; Robust reversions and rising occupancies in all marketsDaiwa House Logistics Trust (DHLT SP) 1H22 DPU flat vs IPO forecast; Steady as she goes with no refinancing risk until FY24Strata office deals down 21% HoH, while retail up 8.8% in 1H22

ASEAN Builder's Scoop (3Aug22) - AREIT Robust Reversions and Occupancies

<ul><li><a href="https://www.smartkarma.com/entities/ascendas-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:39" rel="noopener">Ascendas Real Estate Investment Trust (AREIT SP)</a> to acquire 7 logistics properties in Chicago, USA at ~5.3% NPI yield</li><li><a href="https://www.smartkarma.com/entities/oue-commercial-real-estate-investment-trust" target="_blank" data-smartkarma-citation="entities:912" rel="noopener">OUE Commercial REIT (OUECT SP)</a> looking to acquire office assets in Sydney, Melbourne, and London</li><li>The SGD strengthening to keep SREITs resilient after travel rebound</li></ul>

Ascendas Real Estate Investment Trust (AREIT SP) to acquire 7 logistics properties in Chicago, USA at ~5.3% NPI yieldOUE Commercial REIT (OUECT SP) looking to acquire office assets in Sydney, Melbourne, and LondonThe SGD strengthening to keep SREITs resilient after travel rebound

ASEAN Builder's Scoop (10May22) - AREIT Buys 7 Logistics Props in Chicago at ~5.3% Yield

Singapore

CapitaLand Ascendas REIT is Singapore's first and largest listed business space and industrial real estate investment trust. It focuses on a diversified portfolio of business and industrial properties, including business and science parks, high-specification industrial properties, data centers, light industrial properties, and logistics and distribution centers across Singapore, Australia, Europe, and the US. Headquartered in Singapore, the company was established in 2002.

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CapitaLand Ascendas (CLAR SP)

Singapore REITS : TOP 10 S-REITS for Mid & Long-Term Investment

202112304K 137 Market Street #12-01 Singapore 048943 E-mail: [email protected] Tel: +65 6011 1700 TOP 10 S-REITS for Mid & Long-Term...

Tickrs

ASEAN Builder's Scoop (14Sep22) - AREIT Buys SG Cold Storage Facility, +0.56% DPU Accretion

PREIT expands into Japan nursing home; GLS tenders received fewer bids; Condo resale prices marched higher in Aug22; TRCB inks 3 land acq in 2022

SCCM Asia Research

ASEAN Builder's Scoop (5Aug22) - FLT Robust Reversions +ve Surprise

ELITE higher mid-year portfolio valuation; AREIT buys Philips APAC Centre at +0.3% DPU accretion; BSDE 1H22 mktg sales reached 61% FY target; FLI...

SCCM Asia Research

ASEAN Builder's Scoop (3Aug22) - AREIT Robust Reversions and Occupancies

DHLT steady as she goes; Strata office deals -21% HoH, retail +9% HoH; Former AXA Tower set to be SG's tallest building; IVORY may not be a going...

SCCM Asia Research

ASEAN Builder's Scoop (10May22) - AREIT Buys 7 Logistics Props in Chicago at ~5.3% Yield

OUECT looking to buy AUS, London offices; Indo tourist arrivals gradual recovery; Marcos leading Phils election, YTL aims to grow REIT portfolio

SCCM Asia Research

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