Soilbuild REIT has been removed from the FTSE Singapore All Cap Index and the Benchmark Index, announced the manager of Starhill Global REIT on March 30.

The Benchmark Index is relevant to the determination of the performance fee that may be paid to the manager under the trust deed constituting Starhill Global REIT dated Aug 8, 2005.

Under the deed, the manager is entitled to a performance fee should the accumulated return of the units in Starhill Global REIT in any financial year ending June 30 exceed the total return of the Benchmark Index.

As at March 30, there are 31 Singapore-listed REITs and property-related business trusts in the FTSE Singapore All Cap Index, compared to 33 as at June 2020.

Apart from the removal of Soilbuild REIT, Eagle Hospitality REIT is no longer among the constituents, while CapitaLand Commercial Trust (CCT) and CapitaLand Mall Trust (CMT) have been merged to form CapitaLand Integrated Commercial Trust (CICT). Prime US REIT, which was previously not on the list since June 2020, is included as well.


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SEE:Soilbuild REIT’s privatisation offer is likely to be met with approval from unitholders


On March 26, the manager of Soilbuild REIT announced that the court hearing on the application to sanction the REIT's trust of arrangement, has been adjourned to March 30, due to opposition from one of the REIT's unitholders.

The opposition is based on the "one-proxy rule", which allows for the appointment of only one proxy per SB Unitholder, should not have been used in respect of the trust scheme meeting.

On March 11, unitholders of the REIT voted in favour of the proposed privatisation by Soilbuild REIT's executive chairman Lim Chap Huat and Blackstone Real Estate.

Soilbuild REIT, on the morning of March 29, requested for a trading halt.

The REIT constituents currently comprise:

  1. AIMS APAC REIT
  2. ARA LOGOS Logistics Trust
  3. Ascendas Real Estate Investment Trust
  4. Ascott Residence Trust
  5. CapitaLand Integrated Commercial Trust
  6. CapitaLand Retail China Trust
  7. CDL Hospitality Trusts
  8. Cromwell European REIT
  9. ESR-REIT
  10. Far East Hospitality Trust
  11. First Real Estate Investment Trust
  12. Frasers Centrepoint Trust
  13. Frasers Hospitality Trust
  14. Frasers Logistics & Industrial Trust
  15. Keppel REIT
  16. Keppel DC REIT
  17. Keppel Pacific Oak US REIT
  18. Lendlease Global Commercial REIT
  19. Lippo Malls Indonesia Retail Trust
  20. Manulife US REIT
  21. Mapletree Commercial Trust
  22. Mapletree North Asia Commercial Trust
  23. Mapletree Industrial Trust
  24. Mapletree Logistics Trust
  25. OUE Commercial Real Estate Investment Trust
  26. Parkway Life Real Estate Investment Trust
  27. Prime US REIT
  28. Sabana Shari’ah Compliant Industrial REIT
  29. SPH REIT
  30. Starhill Global REIT, and
  31. Suntec REIT.