RBC Investor Services Trust Singapore intends to retire as Keppel Reit trustee

THE manager of Keppel Reit K71U said it has received, from RBC Investor Services Trust Singapore, a letter of intention to retire as trustee of the real estate investment trust (Reit) on Tuesday (Mar 8).

RBC is intending to cease provision of trustee services for all authorised collective investment schemes in Singapore, Keppel Reit Management noted.

Keppel Reit Management said the letter of intention is not a notice of retirement, and RBC will give the requisite notice of retirement in writing at a later date.

In the meantime, RBC will continue to carry out its duties in accordance with Keppel Reit's trust deed until the effective date of its retirement and appointment of the incoming trustee.

The manager said it is currently in the process of identifying the incoming trustee.

Units of Keppel Reit closed at S$1.16 on Monday, down S$0.02 or 1.7 per cent.

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