Aims Amp Industrial Reit

Aims Amp Industrial Reit (AAREIT): announced yday that it has extended 55% of the underlying leases in its largest asset, 27 Penjuru Lane, ahead of the expiry of the master lease in FYMar13. As a result, only 18% of the leases in its overall portfolio will expire this year compared to 28% previously. No more than 18% of the portfolio leases will expire in any given year. The newly secured sub tenancy agreements will generate rental returns about 7.5% higher than the current master lease terms signed in 2007. StanChart reiterates its Outperform rating with TP $1.50.