Sabana REIT

Sabana REIT: The REIT sector has been performing and it does not look counter specific. For example, high-yield industrials like AIMS and Cambridge have also shown rallies. Our house has a recent report on S-REITs on 10 Sept and the sector was also feature in a Bloomberg article. A reason for this could be our perceived strong and strengthening currency and a play on the yield as money flows into Sg. On the stock specific side, co recently obtained financing through term facilities of 3 yrs and 5 yrs at 4.1% lower than prev 4.8% as well as through the issuance of a convertible sukuk at 4.5% which is positive.