Keppel REIT Management Limited announced on Apr, 21 2026 that it has obtained a tax ruling from the Inland Revenue Authority of Singapore regarding its 100 million Singapore dollars 3.28 per cent subordinated perpetual securities issued on Nov, 27 2025.

Under the ruling, the securities are regarded as debt instruments for the purpose of Section 43H(4) of the Income Tax Act 1947 and the Income Tax (Qualifying Debt Securities) Regulations. As a result, distributions on the securities will be treated as interest on indebtedness, potentially enabling holders to benefit from applicable tax concessions and exemptions for qualifying debt securities.

The perpetual securities were issued by HSBC Institutional Trust Services (Singapore) Limited in its capacity as trustee of Keppel REIT under the 2 billion Singapore dollars multicurrency debt issuance programme. The ruling is based on current tax law and the facts presented to the tax authority.