The manager of Frasers Logistics & Commercial Trust (FLCT) has announced that the REIT will join the Straits Times Index (STI) from April 13.

The inclusion of FLCT into the STI, which tracks the performance of the top 30 companies listed on the Singapore Exchange (SGX), follows the removal of Jardine Strategic Holdings pursuant to the restructuring of the Jardine group.

FLCT’s market capitalisation stands at $5.04 billion as of April 8.

SEE:Good time to buy large cap industrial S-REITs after recent correction in prices: DBS

Robert Wallace, CEO of the REIT manager, says “We are delighted that FLCT will be included as a constituent of the STI.”

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“Our inclusion into the benchmark index for the Singapore stock market bears testament to the progress we have made as a listed REIT, which we trust will further elevate FLCT’s profile and visibility with global investors.”

Shares in FLCT closed flat at $1.46 on April 8.