Property tycoon Gordon Tang and his wife Celine, through their vehicle Aelios, have increased their cash offer for Suntec Real Estate Investment Trust (Reit) to $1.19 per unit, from $1.16 previously.

The revised offer, announced after the stock market closed on Jan 8, represents a 2.6 per cent premium to Suntec Reit’s closing price on Dec 4, the last trading day before the original offer was made.