Hwang Investment Disposes 690,000 Units in Croetus Retail Trust

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Malaysian-based investment management firm Hwang Investment Management Berhad (Hwang IM) has revealed in a filing with Singapore Exchange that it has disposed of 690,000 units in recently-listed Croetus Retail Trust (CRT) (SGX:S6NU). The disposal was done as a transaction in the open market last 17 May.

Croetus Retail Trust is the first Japan-focused commercial property trust to list on the Singapore Exchange.

With this disposal, Hwang IM's stake in CRT reduces from 5.06 percent to 4.9 percent as the company still retains 20,836,000 units in the trust. Hwang IM is a 53 percent owned subsidiary of Hwang-DBS (Malaysia) Berhad.

Prices of CRT are currently trading on the Singapore Exchange at S$1.05. This is relatively lower from about a week back when it was trading for as high as S$1.15. Croetus Retail Trust is the first property trust to list in Singapore that focuses on Japanese commercial properties such as shopping malls. It debuted last 10 May by surging more than 20 percent above its initial public offering price of S$0.93

REITSWEEK did an analysis on the IPO before it debuted. You can read it here.

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