MAS moves to strengthen Singapore's Reit sector

Singapore

THE Monetary Authority of Singapore on Thursday issued a consultation paper to strengthen Singapore's real estate investment trust (Reit) market. Market watchers welcomed its proposals to improve the corporate governance of Reits and ensure that fees paid to Reit managers are aligned with the interests of unitholders. The move was seen as a response to long-running issues in the Reit sector.

For one thing, investors and commentators have often demanded more independence for Reits from their sponsors, which usually fully own the Reit managers. P…