The Business Times
business-time-50

After the steep selling, what’s next for unitholders of Manulife US Reit?

google-preferred-sourceAdd BT as a preferred source
Raphael Lim

Raphael Lim

Published Wed, Jul 26, 2023 · 05:00 AM
    • The manager says the valuation of its real estate portfolio, which includes Centerpointe I & II (pictured), had declined by 14.6 per cent to US$1.6 billion as at Jun 30, 2023.
    • The manager says the valuation of its real estate portfolio, which includes Centerpointe I & II (pictured), had declined by 14.6 per cent to US$1.6 billion as at Jun 30, 2023. PHOTO: MANULIFE US REIT

    MANULIFE US Real Estate Investment Trust’s (MUST) market value has plunged by over a third in the past week after the office trust unexpectedly announced it had breached loan covenants, potentially impacting distributions.

    Already one of the worst performers among Singapore-listed real estate investment trusts (Reits), MUST’s units fell further to a new closing low of US$0.105 on Tuesday (Jul 25).

    This was a 37.9 per cent drop from the US$0.169 close on Jul 17, before the manager announced that the real estate portfolio valuation had declined by 14.6 per cent to US$1.6 billion as at Jun 30, 2023, down from US$1.9 billion six months earlier.

    Hock Lock SiewSpotlight

    TRENDING NOW

    When BT visited the Japan Home outlet at Westgate on Wednesday, it was engage in a two-day “stocktaking exercise”.

    Japan Home licenses Singapore retail stores to Valu$ owner Radha Exports

    Sats posted a S$75.1 million net profit for Q1, up 6% from S$70.9 million in the same year-ago period.

    Sats slides over 10% as investors dump shares on profit margin squeeze

    On Wednesday (Aug 19), the 79-year-old stepped down as chairman of the National Wages Council with immediate effect for “personal reasons”.

    From sales exec to DBS chairman: A look at Peter Seah’s illustrious career

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More