Singapore’s other pure-play Reits trading below book could do with strategic reviews too

THE decision by the manager of Manulife US Reit : BTOU 0% to conduct a strategic review – just six years into its listing on the Singapore Exchange (SGX) – is a bold move.

On one hand, some in the market might take it as an admission of failure.

That the value of a real estate investment trust (Reit) – backed by a strong global sponsor, no less – should have collapsed to the extent it did suggests the Reit was not built on a sturdy foundation in the first place.