Analysis on Suntec REIT

The rationale for this stock research arises from my recent decision to invest in a reputable REIT with a consistent track record of cash distribution per unit (DPU). Another factor of consideration is the quality of the management in strategizing growth for the company. Suntec REIT seems to fit the bill and hence, this shall be my first analysis on this venerable SGX stock.

New chapter for Suntec REIT

Listed on 9 December 2004 on Singapore Exchange mainboard, Suntec REIT is the first composite REIT in Singapore, owning income-producing real estate that is primarily used for retail and/or office purposes. 2016 had been an eventful year as the company expanded its footprint in Australia and navigated through the soft retail market reasonably well. For 2017, the change of CEO of the Manager will herald a new chapter for Suntec REIT.

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On 2 December 2016, it was announced that Mr Yeo See Kiat would retire as CEO with effect from 31 December 2016. Mr Yeo has been CEO of the Manager of Suntec REIT for 10 years and has steered the company through significant milestone events through the decade. Some of his notable achievements include overseeing the $410 million asset enhancement of Suntec City, divestment of Park Mall for $411 million and Suntec REIT’s foray into Australia.

On hindsight, the appointment of the new CEO, Mr Chan Kong Leong should be part of Suntec REIT’ succession planning. Prior to the promotion, Mr Chan was appointed as Chief Operating Officer on 1 June 2016. Mr. Chan was the Senior Vice President and Head of Regional Investment, Asset & Fund Management at CapitaLand Limited and was with the company since 2010. Prior to that, Mr. Chan was the Head of Corporate Finance, Investor Relations & Corporate Communications at GuocoLand Limited. He has held senior management positions over the last thirteen years.

Suntec REIT portfolio

In Suntec REIT, Mr Chan inherited [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]

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Updated: October 19, 2019 — 2:23 pm

2 Comments

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  1. Thanks for the nice and Informative post. I’m vested with a small amount too. Looking to increase when the right opportunity arises.

    Hope they continue to post good results.

  2. Hi JASS,

    I have faith in the ability of Suntec Reit’s management.
    Thus, I believe the shares will continue to do well in the long run.
    Huat ah!!

    Regards,
    Gerald
    https://www.sgwealthbuilder.com

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