SINGAPORE (Dec 9): On the back of a slew of mergers and acquisitions among Singapore’s real estate investment trusts (S-REITs), UOB Kay Hian believes there could well be more consolidation of smaller S-REITs to come.

See: Size matters: UOB Kay Hian stays buoyant on Singapore REITs sector amid flurry of M&As

“Market cap and trading liquidity are important considerations when sell-side analysts decide on their universe of coverage,” says UOB Kay Hian lead analyst Jonathan Koh in a Dec 4 report. “The prime motivation is to enlarge scale, increase free float and aim for index inclusion.”

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