Tiger Brokers

First REIT hedges 95% of Siloam divestment proceeds

SGX Filings
Jun 09

First Real Estate Investment Trust (First REIT) said on Jun, 9 2026 that it has entered into a further deal-contingent non-deliverable foreign-exchange forward transaction for IDR1 trillion, equal to 19.5 % of the Siloam Divestment Consideration.

The additional hedge lifts the total amount covered to IDR4.85 trillion, or about 95 % of the IDR5.1 trillion Siloam proceeds expected from the planned property disposals. The forward contract is based on a baseline spot rate of IDR14,100 per S$1.00, adjusted by a forward swap rate at settlement.

First REIT said the hedging is intended to protect unitholders against potential Indonesian rupiah weakness relative to the Singapore dollar ahead of the receipt of sale proceeds and the subsequent special distribution.

The manager added that it will keep monitoring the IDR/SGD exchange rate and provide further updates if there are material developments.

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