Suntec REIT has subscribed to a S$40 million equity raise of Harmony Investors Group (HIG), which indirectly controls the Suntec International Convention and Exhibition Centre.

The purpose of the capital injection is to support Suntec Singapore in the face of challenges to the Meetings, Incentives, Conventions and Exhibitions (“MICE”) industry in Singapore due to the COVID-19 pandemic.

As the other shareholder has not participated in the operation, the trust effective interest in HIG now amounts to about 66.3%, up from 60.8%.