30 Jun '13, 4pm

AsiaClassifiedToday: ANZ Sees Singapore REITs Weathering Rate Storm: Southeast Asia - Businesswe... #asia #google

Singapore’s property trusts, Asia’s second-worst performers this year, are well-positioned to weather an increase in interest rates as they diversify their funding sources, said Australia & New Zealand Banking Group Ltd. (ANZ) The average debt maturity of Singapore REITs has risen to four to five years from three years, Rohit Mohindra, the head of real estate for Southeast Asia at ANZ, said in an interview in Singapore on June 27. Only about 7 percent of the debt issued by the island-state’s REITs needs to be refinanced this year, according to Mohindra. The FTSE Strait Times Real Estate Investment Trust Index, which surged 37 percent in 2012, has lost 4.6 percent this year on concern higher interest rates would make it more difficult to raise funds. Between the Singapore-dollar bond market and banks, there is ample liquidity for REIT sponsors in Singapore to access capital...

Full article: http://www.businessweek.com/news/2013-06-30/anz-sees-sing...

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