Suntec REIT - Insider transaction
On 14 June 2018, Mr Hwee Chiang Lim, from ARA Asset Management had bought 1,000,000 Suntec REIT shares at SGD1.7247.
Suntec REIT is one of the REITs owned by ARA Asset Management.
Mr Lim mentioned that Suntec REIT had looked to Australia for growth.
He added that "Suntec REIT owns 3 properties in Australia. The property market has cycles and is not plain sailing all the time. We came up with strategy to divert some of the asset, so the profit we make can sustain the DPU for the 'down' period. At the same time we diversified into developed markets such as Australia that provides long weighted average lease to expiry, stable income and freehold land tenure. Suntec REIT's retail portfolio has an occupancy of 98.4% and its office portfolio has an occupancy of 99.1%."
Dividend yield for Suntec REIT is at 5.76%. Price to book at 0.80.
Suntec REIT is one of the REITs owned by ARA Asset Management.
Mr Lim mentioned that Suntec REIT had looked to Australia for growth.
He added that "Suntec REIT owns 3 properties in Australia. The property market has cycles and is not plain sailing all the time. We came up with strategy to divert some of the asset, so the profit we make can sustain the DPU for the 'down' period. At the same time we diversified into developed markets such as Australia that provides long weighted average lease to expiry, stable income and freehold land tenure. Suntec REIT's retail portfolio has an occupancy of 98.4% and its office portfolio has an occupancy of 99.1%."
Dividend yield for Suntec REIT is at 5.76%. Price to book at 0.80.
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