Suntec Trust Management Limited, the manager of Suntec Real Estate Investment Trust (T82U), has published detailed responses to substantial unitholder questions before the physical Annual General Meeting scheduled for Apr, 16 2026 at Suntec Singapore Convention & Exhibition Centre.

Key operational points include an update on The Minster Building in London, where non-contiguous vacancies totalling 42,000 square feet are being repositioned through enhancement works to improve leasing prospects, and confirmation that Suntec City Mall is expected to remain resilient despite the Johor Bahru–Singapore Rapid Transit System Link opening in late 2026.

On acquisitions, the manager said it declined opportunities to buy stakes in One Raffles Quay and Marina Bay Financial Centre Towers 1 and 2, noting that an all-debt funding structure would have pushed aggregate leverage above 45 per cent and diluted net asset value and distribution per unit.

Regarding capital management, about 65 per cent of borrowings are on fixed or hedged rates, with 80 per cent denominated in Singapore dollars. Financing costs for FY 2026 are expected to stay close to FY 2025 levels; a 100-basis-point rise in interest rates would lift annual interest expense by approximately 19.2 million Singapore dollars and reduce FY 2025 distribution per unit by 0.65 cents.

The manager also outlined the transition to new sponsor Tang Organization following its acquisition of Suntec REIT’s manager, emphasising continuity of strategy and alignment with unitholders’ interests. A strategic review is under way, and the eight-storey 9 Penang Road office property has been identified as a potential pipeline asset.

Suntec REIT added that its unit price discount to net asset value narrowed to 29 per cent as at Dec, 31 2025, aided by operational improvements and ongoing divestment plans, including strata office sales at Suntec City.

The full Q&A is available in the REIT’s 2025 Annual Report on its website.