Aims Apac Reit expects ‘minimal financial impact’ from Yishun industrial asset fire

AIMS Apac Real Estate Investment Trust ’s (AA Reit) manager on Tuesday (Oct 10) reported a fire incident at one of the Reit’s properties at 61 Yishun Industrial Park A.

There were no casualties reported, the manager said. It noted that the fire broke out at around 5.15 pm and was brought under control by the Singapore Civil Defence Force by about 6.30 pm.

The asset accounted for 0.9 per cent of total portfolio value and 1.2 per cent of gross revenue as at end-June 2023. It is also insured for physical damage and any loss of business income for 36 months.

“Accordingly, the incident is expected to have minimal financial impact,” the manager added.

Units of AA Reit closed S$0.02 or 1.6 per cent higher at S$1.30, before the news.