SPH Reit studying overseas markets such as Australia for future acquisitions

Singapore

SPH Reit has been "aggressively and actively" looking at acquisition opportunities since two years ago. It has even looked at overseas markets such as Australia, but has yet to find any suitable assets to add to its portfolio.

This was what the management told unitholders at the trust's fourth annual general meeting (AGM) on Thursday, when they were asked about SPH Reit's expansion plans. About 280 unitholders and proxy holders attended the AGM.

During the 90-minute session, several unitholders noted that the Reit has not expanded its portfolio since its initial public offering in mid-2013. It still only owns two malls: Paragon and The Clementi Mall.

While unitholders acknowledged that the trust has continued to dole out stable and regular dividends, they noted that its share price has been slow to move, rising only about 10 cents so far from its listing price of S$0.90. It ended flat at S$1.…