Kudos to MAS for light touch on Reit governance
REAL estate investment trust managers heaved a sigh of relief when the Monetary Authority of Singapore (MAS) unveiled its finalised list of rules governing the Reit sector.
Following discussions with and feedback from the sector, the central bank opted for a light touch approach to give the 13-year-old Singapore Reit (S-Reit) market flexibility to grow.
Among the noteworthy MAS initiatives is its dropping of a proposal to replace fees paid to Reit managers relating to acquisition and divestment of properties with one that basically covers just their costs. It also decided not to pursue operational restrictions on stapled Reits and not to regulate income support arrangements more strictly. In return, it asked for better disclosures.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Reits & Property
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
LMIRT Q1 net property income dips 3.1% to S$30 million on higher expenses
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336