Suntec Injects S$40 Million in Suntec Exhibition Centre

News about Suntec REIT

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%.

Suntec REIT
Price1.450 SGD
NAV2.089 SGD
Yield (4 quarters)5.52%
Gearing41.3%