The manager of Cromwell European Real Estate Investment Trust (CEREIT) has announced that CEREIT has been ranked amongst the top 10 Singapore-listed REITs and business trusts in the Singapore Governance and Transparency Index (SGTI) 2020.
In the latest index released on August 6, CEREIT achieved a score of 95.4 points and stood at 7th place, climbing almost 30 spots from its inaugural 2019 ranking of 36th.
The top spot in the REIT and Business Trust Category was claimed by CapitaLand Commercial Trust, with CapitaLand Mall Trust and Ascott Residence Trust rounding off the top three positions.
SGTI assesses companies based on criteria such as board responsibilities, rights of shareholders, stakeholder engagement, sustainability management, accountability and audit, and disclosure and transparency.
Criteria for REITs include additional reporting requirements covering structure, leverage, interested person transactions, competency of REIT Manager / Trustee-manager and emoluments.
The manager’s CEO Simon Garing, commented, “We are thrilled that CEREIT has been recognised for its excellence and good governance practices, achieving a top 10 spot in SGTI in just its second assessment year.”
“This…demonstrates our commitment to continue safeguarding CEREIT unitholders’ interests through effective risk management processes, transparent disclosures, robust reporting and high sustainability standards.” he added.
As at 9.35 am, units in CEREIT are changing hands flat at 42.5 Euro cents (68.9 Singapore cents).