SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

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With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

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Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>REIT Watch – Industrial S-Reits record positive rental reversions Mapletree Logistics Trust (MLT), Aims Apac Reit (AAReit) and Mapletree Industrial Trust (MIT) received the most institutional net inflows this year-to-date totalling S$12 million, while ESR-Logos Reit (E-Log), MIT and Sabana Industrial Reit received the most net retail inflows totalling S$22 million.</li><li>Sabana Industrial Reit, the only industrial S-Reit with all of its assets in Singapore, saw FY22 gross revenue rise by 15.9 per cent yoy, while NPI rose 2.6 per cent yoy.</li></ul>

REIT Watch – Industrial S-Reits record positive rental reversions Mapletree Logistics Trust (MLT), Aims Apac Reit (AAReit) and Mapletree Industrial Trust (MIT) received the most institutional net inflows this year-to-date totalling S$12 million, while ESR-Logos Reit (E-Log), MIT and Sabana Industrial Reit received the most net retail inflows totalling S$22 million.Sabana Industrial Reit, the only industrial S-Reit with all of its assets in Singapore, saw FY22 gross revenue rise by 15.9 per cent yoy, while NPI rose 2.6 per cent yoy.

REIT Watch – Industrial S-Reits record positive rental reversions

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 <div class='content-caption'>REIT Watch 4 July</div>
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The iEdge S-Reit Index held resilient for the first half of 2022, generating flat total returns compared to the FTSE EPRA Nareit Developed Index (a benchmark for global Reits) which declined 18 per cent.

During the period, the S-Reits and property trusts sector in Singapore saw S$359 million of net institutional outflows and S$447 million of net retail inflows.

Hospitality was the best performing sub-segment in H1 2022. The 5 hospitality trusts averaged 17 per cent total returns and garnered S$62 million of net institutional inflows.

Aside from hospitality trusts, diversified S-Reits and some industrial and retail S-Reits were also among the top performing S-Reits in the first half of 2022. The 9 trusts which outperformed the broader iEdge S-Reit Index in H1 2022 include Frasers Hospitality Trust (+52.2 per cent), Ascott Residence Trust (+12.5 per cent), Far East Hospitality Trust (+11.3 per cent), CDL Hospitality Trusts (+11.3 per cent), Mapletree North Asia Commercial Trust (+11.2 per cent), Suntec Reit (+10.3 per cent), CapitaLand Integrated Commercial Trust (+6.6 per cent), Sabana Industrial Reit (+5.9 per cent) and Frasers Centrepoint Trust (+1.7 per cent).

Lendlease Global Commercial Reit was the only S-Reit which received both net institutional and retail inflows for the first half of 2022. It saw S$5 million of net institutional inflows and S$11 million of net retail inflows.

While the first quarter of the year was largely driven by hospitality trusts and the reopening theme, performance was mixed in Q2 2022. The 5 best performing trusts in Q2 2022 include Frasers Hospitality Trust (+32.3 per cent), ParkwayLife Reit (+3.6 per cent), Lendlease Global Commercial Reit (+2.6 per cent), Dasin Retail Trust (+1.6 per cent) and Ascott Residence Trust (+0.9 per cent).

The iEdge S-Reit Index dipped 1.3 per cent in total returns in Q2 2022 while the sector as a whole saw S$173 million of net institutional outflows and S$282 million of net retail inflows. ESR-Logos Reit was the only S-Reit which received both net institutional and retail inflows for Q1 2022. It saw S$2 million of net institutional inflows and S$10 million of net retail inflows.

Inflows into the 5 SGX-listed Reit exchange traded funds (ETFs) hit a record in June 2022, with S$60 million of inflows over the month. This topped the previous record inflow of S$34 million in March 2020, near the start of the Covid-19 pandemic. Across H1 2022, the 5 ETFs received S$113 million of inflows and saw combined asset under management (AUM) rising S$63 million, hitting S$874 million as at end June. 

REIT Watch is a weekly column on The Business Times, <a href="https://www.businesstimes.com.sg/companies-markets/s-reits-shelter-from-the-storm-in-h1-2022">read </a>the original version.
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    REIT Watch 4 July


The iEdge S-Reit Index held resilient for the first half of 2022, generating flat total returns compared to the FTSE EPRA Nareit Developed Index (a benchmark for global Reits) which declined 18 per cent.

During the period, the S-Reits and property trusts sector in Singapore saw S$359 million of net institutional outflows and S$447 million of net retail inflows.

Hospitality was the best performing sub-segment in H1 2022. The 5 hospitality trusts averaged 17 per cent total returns and garnered S$62 million of net institutional inflows.

Aside from hospitality trusts, diversified S-Reits and some industrial and retail S-Reits were also among the top performing S-Reits in the first half of 2022. The 9 trusts which outperformed the broader iEdge S-Reit Index in H1 2022 include Frasers Hospitality Trust (+52.2 per cent), Ascott Residence Trust (+12.5 per cent), Far East Hospitality Trust (+11.3 per cent), CDL Hospitality Trusts (+11.3 per cent), Mapletree North Asia Commercial Trust (+11.2 per cent), Suntec Reit (+10.3 per cent), CapitaLand Integrated Commercial Trust (+6.6 per cent), Sabana Industrial Reit (+5.9 per cent) and Frasers Centrepoint Trust (+1.7 per cent).

Lendlease Global Commercial Reit was the only S-Reit which received both net institutional and retail inflows for the first half of 2022. It saw S$5 million of net institutional inflows and S$11 million of net retail inflows.

While the first quarter of the year was largely driven by hospitality trusts and the reopening theme, performance was mixed in Q2 2022. The 5 best performing trusts in Q2 2022 include Frasers Hospitality Trust (+32.3 per cent), ParkwayLife Reit (+3.6 per cent), Lendlease Global Commercial Reit (+2.6 per cent), Dasin Retail Trust (+1.6 per cent) and Ascott Residence Trust (+0.9 per cent).

The iEdge S-Reit Index dipped 1.3 per cent in total returns in Q2 2022 while the sector as a whole saw S$173 million of net institutional outflows and S$282 million of net retail inflows. ESR-Logos Reit was the only S-Reit which received both net institutional and retail inflows for Q1 2022. It saw S$2 million of net institutional inflows and S$10 million of net retail inflows.

Inflows into the 5 SGX-listed Reit exchange traded funds (ETFs) hit a record in June 2022, with S$60 million of inflows over the month. This topped the previous record inflow of S$34 million in March 2020, near the start of the Covid-19 pandemic. Across H1 2022, the 5 ETFs received S$113 million of inflows and saw combined asset under management (AUM) rising S$63 million, hitting S$874 million as at end June. 

REIT Watch is a weekly column on The Business Times, read the original version.



REIT Watch - S-Reits - shelter from the storm in H1 2022

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 <div class='content-caption'>REIT Watch</div>
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Prices and rentals of Singapore industrial spaces continued to rise in the first quarter of 2022, despite a dip in the overall occupancy rate, according to the quarterly market report published by JTC.

In Q1 2022, the overall occupancy rate fell to 89.8 per cent, a drop of 0.4 percentage points compared to the previous quarter, due to new completions picking up significantly, and increase in supply exceeding new demand.

Despite the drop in occupancy, price and rental indices of all industrial space rose by 2.1 per cent and 1.0 per cent respectively compared to the previous quarter. 
SGX lists 8 industrial S-Reits, of which 6 have exposure to Singapore-based industrial assets.

These 6 trusts are AIMS Apac Reit, Ascendas Reit, ESR-Logos Reit, Mapletree Industrial Trust, Mapletree Logistics Trust and Sabana Industrial Reit. Assets of Daiwa House Logistics Trust and EC World Reit are based in Japan and China respectively.

AIMS Apac Reit reported higher FY22 gross revenue and net property income (NPI) of S$142.4 million and S$103.2 million, rising 16.1 per cent and 17.9 per cent year on year respectively. 
The improved performance was mainly attributed to contributions from recently acquired assets as well as higher rental and recoveries for several Singapore assets. 
Ascendas Reit’s March 2022 occupancy rate of 90.0 per cent for its Singapore portfolio was 0.2 per cent lower compared to a quarter ago, but 3.1 per cent higher than a year ago. 
The Reit recorded an average portfolio rent reversion of 3.9 per cent for Singapore leases renewed in Q1 2022 and expects rental reversion across its overall portfolio for FY22 to be in the positive low single-digit range in view of current market uncertainties. 
ESR-Logos Reit (E-LOG) started trading on May 5, following the successful merger of ESR-Reit and ARA Logos Logistics Trust. 
The Reit’s asset portfolio is valued at S$5.5 billion across Singapore and Australia and it intends to actively leverage on the initial sponsor pipeline of approximately US$2 billion of visible and executable pipeline across key gateway markets in the Asia-Pacific. 
Mapletree Industrial Trust (MIT) announced FY21/22 distribution per unit (DPU) of 13.8 cents, an increase of 10.0 per cent year on year. 
MIT reported higher average overall portfolio occupancy for Q4 FY21/22 compared to the previous quarter, mainly due to improved occupancy of the Singapore portfolio especially among business park buildings and flatted factories. 
Mapletree Logistics Trust’s (MLT) FY21/22 amount distributable to unitholders grew 17.3 per cent year on year to S$390.7 million, while DPU rose 5.5 per cent to 8.787 cents. 
MLT observed that the leasing market in Singapore remains stable with demand boosted by e-commerce growth and business inventory stockpiling. 
Sabana Industrial Reit, in its Q1 2022 business update, reported healthy occupancy of 85.2 per cent and positive rental reversion of 4.0 per cent. 
The Reit noted that this is the 8th quarter in the past 9 quarters where positive reversion was achieved. REIT Watch is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/tenant-sales-back-at-pre-covid-levels-for-retail-s-reits"> </a><a href="https://www.businesstimes.com.sg/companies-markets/industrial-s-reits-report-positive-rental-reversions">read </a>the original version.
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    REIT Watch


Prices and rentals of Singapore industrial spaces continued to rise in the first quarter of 2022, despite a dip in the overall occupancy rate, according to the quarterly market report published by JTC.

In Q1 2022, the overall occupancy rate fell to 89.8 per cent, a drop of 0.4 percentage points compared to the previous quarter, due to new completions picking up significantly, and increase in supply exceeding new demand.

Despite the drop in occupancy, price and rental indices of all industrial space rose by 2.1 per cent and 1.0 per cent respectively compared to the previous quarter.  
SGX lists 8 industrial S-Reits, of which 6 have exposure to Singapore-based industrial assets.

These 6 trusts are AIMS Apac Reit, Ascendas Reit, ESR-Logos Reit, Mapletree Industrial Trust, Mapletree Logistics Trust and Sabana Industrial Reit. Assets of Daiwa House Logistics Trust and EC World Reit are based in Japan and China respectively.

AIMS Apac Reit reported higher FY22 gross revenue and net property income (NPI) of S$142.4 million and S$103.2 million, rising 16.1 per cent and 17.9 per cent year on year respectively.  
The improved performance was mainly attributed to contributions from recently acquired assets as well as higher rental and recoveries for several Singapore assets.  
Ascendas Reit’s March 2022 occupancy rate of 90.0 per cent for its Singapore portfolio was 0.2 per cent lower compared to a quarter ago, but 3.1 per cent higher than a year ago.  
The Reit recorded an average portfolio rent reversion of 3.9 per cent for Singapore leases renewed in Q1 2022 and expects rental reversion across its overall portfolio for FY22 to be in the positive low single-digit range in view of current market uncertainties.  
ESR-Logos Reit (E-LOG) started trading on May 5, following the successful merger of ESR-Reit and ARA Logos Logistics Trust.  
The Reit’s asset portfolio is valued at S$5.5 billion across Singapore and Australia and it intends to actively leverage on the initial sponsor pipeline of approximately US$2 billion of visible and executable pipeline across key gateway markets in the Asia-Pacific.  
Mapletree Industrial Trust (MIT) announced FY21/22 distribution per unit (DPU) of 13.8 cents, an increase of 10.0 per cent year on year.  
MIT reported higher average overall portfolio occupancy for Q4 FY21/22 compared to the previous quarter, mainly due to improved occupancy of the Singapore portfolio especially among business park buildings and flatted factories.  
Mapletree Logistics Trust’s (MLT) FY21/22 amount distributable to unitholders grew 17.3 per cent year on year to S$390.7 million, while DPU rose 5.5 per cent to 8.787 cents.  
MLT observed that the leasing market in Singapore remains stable with demand boosted by e-commerce growth and business inventory stockpiling.  
Sabana Industrial Reit, in its Q1 2022 business update, reported healthy occupancy of 85.2 per cent and positive rental reversion of 4.0 per cent.  
The Reit noted that this is the 8th quarter in the past 9 quarters where positive reversion was achieved.  REIT Watch is a weekly column on The Business Times, read the original version.



REIT Watch - Industrial S-Reits report positive rental reversions

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<div class="content-caption">Insti investors continue to net buy sreits</div>

The iEdge S-Reit Index recovered 2.5 per cent in total returns over the past 5 sessions (Feb 25, 2022 through to Mar 3, 2022), after a 2 per cent decline seen last Thursday (Feb 24) as global markets saw major moves amid the market volatility.
Despite the dip, the iEdge S-Reit Index has returned 0.6 per cent in total returns for the whole period from Feb 24, 2022 through to Mar 3, 2022.
This means it outperformed the FTSE EPRA Nareit Asia ex-Japan Index which declined 0.7 per cent during the same period. Within the S-Reit sub-sectors, gainers were led by the specialised, healthcare and office Reits while decliners were led by hospitality, retail and diversified Reits.
During the period, institutional investors have been a key driver in S-Reits' fund flow activities, accumulating net institutional inflows of S$30.4 million.
Retail investors on the other hand, net sold S$42.6 million for the sector. In terms of sub-sectors, institutional flows were driven by inflows seen in diversified S-Reits (+S$16.7 million), specialised/data centre S-Reits (+S$6.9 million), and office S-Reits (+S$6.7 million).
The largest retail outflows were seen in diversified S-Reits (-S$22.8 million), office S-Reits (-S$6.6 million), and industrial S-Reits (-S$5.5 million).
On a year-to-date basis, S-Reits have seen a 2 per cent decline, against the Straits Times Index's 4.4 per cent total returns, while the FTSE EPRA Nareit Asia ex-Japan Index has seen a decline of 2.3 per cent.
Interest rates continue to be a key focus for the sector, as expectations of a rate hike grow.
As the earnings season concludes for the sector, broad based distribution per unit growth and healthy occupancy rates remain a common theme. REIT Watch is a weekly column on The Business Times,<a href="https://www.businesstimes.com.sg/companies-markets/green-shoots-for-retail-and-hospitality-s-reits-amid-new-pandemic-phase" target="_blank" rel="noopener">&nbsp;</a><a href="https://www.businesstimes.com.sg/companies-markets/institutional-investors-continue-to-net-buy-s-reits" target="_blank" rel="noopener">read&nbsp;</a>the original version.


Insti investors continue to net buy sreits

The iEdge S-Reit Index recovered 2.5 per cent in total returns over the past 5 sessions (Feb 25, 2022 through to Mar 3, 2022), after a 2 per cent decline seen last Thursday (Feb 24) as global markets saw major moves amid the market volatility.
Despite the dip, the iEdge S-Reit Index has returned 0.6 per cent in total returns for the whole period from Feb 24, 2022 through to Mar 3, 2022.
This means it outperformed the FTSE EPRA Nareit Asia ex-Japan Index which declined 0.7 per cent during the same period.  Within the S-Reit sub-sectors, gainers were led by the specialised, healthcare and office Reits while decliners were led by hospitality, retail and diversified Reits.
During the period, institutional investors have been a key driver in S-Reits' fund flow activities, accumulating net institutional inflows of S$30.4 million.
Retail investors on the other hand, net sold S$42.6 million for the sector.  In terms of sub-sectors, institutional flows were driven by inflows seen in diversified S-Reits (+S$16.7 million), specialised/data centre S-Reits (+S$6.9 million), and office S-Reits (+S$6.7 million).
The largest retail outflows were seen in diversified S-Reits (-S$22.8 million), office S-Reits (-S$6.6 million), and industrial S-Reits (-S$5.5 million).
On a year-to-date basis, S-Reits have seen a 2 per cent decline, against the Straits Times Index's 4.4 per cent total returns, while the FTSE EPRA Nareit Asia ex-Japan Index has seen a decline of 2.3 per cent.
Interest rates continue to be a key focus for the sector, as expectations of a rate hike grow.
As the earnings season concludes for the sector, broad based distribution per unit growth and healthy occupancy rates remain a common theme.  REIT Watch is a weekly column on The Business Times,&nbsp;read&nbsp;the original version.

REIT Watch - Institutional Investors Continue to Net Buy S-Reits

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 <div class='content-caption'>Timeline of SREIT proposed and completed M&As since 2018</div>
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For S-Reits, listing on the exchange is the beginning of a journey. Twenty-four S-Reits had announced asset acquisitions valued at over S$15.3 billion and exceeding S$12.7 billion in total purchase consideration in 2021.

Aside from asset acquisitions, S-Reits have also been active in terms of mergers and acquisition (M&amp;A) opportunities. They have seen at least 5 consolidations since 2018 and could be seeing 2 more this year.

The 5 consolidated S-Reits since 2018 are CapitaLand Integrated Commercial Trust (by CapitaLand Mall Trust and CapitaLand Commercial Trust), Frasers Logistics &amp; Commercial Trust (by Frasers Commercial Trust and Frasers Logistics &amp; Industrial Trust), Ascott Residence Trust (by Ascott Residence Trust and Ascendas Hospitality Trust), OUE Commercial REIT (OUE Commercial REIT and OUE Hospitality Trust), and ESR-REIT (by ESR-REIT and Viva Industrial Trust). 
Most recently announced on Dec 31, 2021 is the proposed merger between Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) to form Mapletree Pan Asia Commercial Trust (MPACT). 
The proposed merger is expected to propel the combined entity to be the seventh largest REIT listed in Asia with a market capitalisation of approximately S$10.5 billion. 
The combined portfolio will consist of 18 commercial assets diversified across Singapore, China, Hong Kong, Japan and South Korea with assets under management (AUM) of approximately S$17.1 billion (per MCT’s AUM as of 30 September 2021 and MNACT’s AUM as of 31 October 2021). 
The proposed merger is expected to be effected by a trust scheme of arrangement with MCT acquiring all MNACT Units in exchange for new units in MCT or a combination of cash and MCT Units.

Reit managers of MCT and MNACT view the merger as an opportunity to bring together 2 leading commercial Reits with highly complementary qualities and see the combined portfolio in providing higher financial flexibility and debt headroom to accelerate its growth and acquisitions.

The new entity is also expected to benefit from the increased representation in key indices and potentially attract a wider investor base and improved trading liquidity.

Another proposed merger in progress is by ESR-Reit and Ara Logos Logistics Trust (ALOG) to form ESR-LOGOS REIT (E-LOG), with a core focus on new economy real estate. 
The combined entity, E-LOG, will hold a diversified portfolio of 87 properties consisting of logistics/warehouse, high-specifications industrial properties, business parks and general industrial properties with total assets of approximately S$5.4 billion across Singapore and Australia (as of 30 June 2021). 
Similarly, via a trust scheme, the proposed merger will see ESR-Reit acquire all units in ALOG in exchange for a combination of cash and new units in ESR-Reit.

Reit managers of ESR-Reit and ALOG have noted that the proposed merger will enhance E-LOG's growth trajectory backed by its sponsor, ESR Group, by providing access to the sponsor's new economy pipeline properties in Asia-Pacific worth over US$50 billion.  REIT Watch is a weekly column on The Business Times, <a href="https://www.businesstimes.com.sg/real-estate/s-reits-bigger-and-bolder-over-the-years">read </a>the original version.
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    Timeline of SREIT proposed and completed M&As since 2018


For S-Reits, listing on the exchange is the beginning of a journey. Twenty-four S-Reits had announced asset acquisitions valued at over S$15.3 billion and exceeding S$12.7 billion in total purchase consideration in 2021.

Aside from asset acquisitions, S-Reits have also been active in terms of mergers and acquisition (M&amp;A) opportunities. They have seen at least 5 consolidations since 2018 and could be seeing 2 more this year.

The 5 consolidated S-Reits since 2018 are CapitaLand Integrated Commercial Trust (by CapitaLand Mall Trust and CapitaLand Commercial Trust), Frasers Logistics &amp; Commercial Trust (by Frasers Commercial Trust and Frasers Logistics &amp; Industrial Trust), Ascott Residence Trust (by Ascott Residence Trust and Ascendas Hospitality Trust), OUE Commercial REIT (OUE Commercial REIT and OUE Hospitality Trust), and ESR-REIT (by ESR-REIT and Viva Industrial Trust).  
Most recently announced on Dec 31, 2021 is the proposed merger between Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) to form Mapletree Pan Asia Commercial Trust (MPACT).  
The proposed merger is expected to propel the combined entity to be the seventh largest REIT listed in Asia with a market capitalisation of approximately S$10.5 billion.  
The combined portfolio will consist of 18 commercial assets diversified across Singapore, China, Hong Kong, Japan and South Korea with assets under management (AUM) of approximately S$17.1 billion (per MCT’s AUM as of 30 September 2021 and MNACT’s AUM as of 31 October 2021).  
The proposed merger is expected to be effected by a trust scheme of arrangement with MCT acquiring all MNACT Units in exchange for new units in MCT or a combination of cash and MCT Units.

Reit managers of MCT and MNACT view the merger as an opportunity to bring together 2 leading commercial Reits with highly complementary qualities and see the combined portfolio in providing higher financial flexibility and debt headroom to accelerate its growth and acquisitions.

The new entity is also expected to benefit from the increased representation in key indices and potentially attract a wider investor base and improved trading liquidity.

Another proposed merger in progress is by ESR-Reit and Ara Logos Logistics Trust (ALOG) to form ESR-LOGOS REIT (E-LOG), with a core focus on new economy real estate.  
The combined entity, E-LOG, will hold a diversified portfolio of 87 properties consisting of logistics/warehouse, high-specifications industrial properties, business parks and general industrial properties with total assets of approximately S$5.4 billion across Singapore and Australia (as of 30 June 2021).  
Similarly, via a trust scheme, the proposed merger will see ESR-Reit acquire all units in ALOG in exchange for a combination of cash and new units in ESR-Reit.

Reit managers of ESR-Reit and ALOG have noted that the proposed merger will enhance E-LOG's growth trajectory backed by its sponsor, ESR Group, by providing access to the sponsor's new economy pipeline properties in Asia-Pacific worth over US$50 billion.   REIT Watch is a weekly column on The Business Times, read the original version.



REIT Watch - S-Reits: Bigger and bolder over the years

Singapore

ESR-REIT is a real estate investment trust that invests in and manages a diversified portfolio of income-producing industrial properties. These properties include logistics, high-specifications industrial, business parks, and general industrial assets across Singapore, Australia, and Japan. The company is headquartered in Singapore and was founded in 2006.

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ESR-REIT (EREIT SP)

REIT Watch – Industrial S-Reits record positive rental reversions

REIT Watch – Industrial S-Reits record positive rental reversions Mapletree Logistics Trust (MLT), Aims Apac Reit (AAReit) and Mapletree...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits - shelter from the storm in H1 2022

The iEdge S-Reit Index held resilient for the first half of 2022, generating flat total returns compared to the FTSE EPRA...

Singapore Exchange Ltd (SGX)

REIT Watch - Industrial S-Reits report positive rental reversions

Prices and rentals of Singapore industrial spaces continued to rise in the first quarter of 2022, despite a dip in the overall...

Singapore Exchange Ltd (SGX)

REIT Watch - Institutional Investors Continue to Net Buy S-Reits

The iEdge S-Reit Index recovered 2.5 per cent in total returns over the past 5 sessions (Feb 25, 2022 through to Mar 3, 2022), after a 2 per...

Singapore Exchange Ltd (SGX)

REIT Watch - S-Reits: Bigger and bolder over the years

For S-Reits, listing on the exchange is the beginning of a journey. Twenty-four S-Reits had announced asset acquisitions valued...

Singapore Exchange Ltd (SGX)

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