UK-based investment firm Aberdeen Asset Management has increased its stake in Singapore-listed Far East Hospitality Trust (SGX:Q5T) by purchasing 282,000 units in the stapled security. The units were purchased via a market transaction at a total price of S$248,160.

Far East Hospitality Trust currently maintains a portfolio of 8 hotels and 4 serviced residences property across Singapore including the Oasia Hotel in Novena.

The transaction translates to about S$0.88 paid per unit and has increased Aberdeen's stake in Far East Hospitality Trust to 7.006 per cent from 6.99 per cent previously. Aberdeen Asset Management via its various subsidiaries now hold on to 123.26 million units in Far East Hospitality Trust.

Far East Hospitality Trust is a stapled security comprising of Far East Hospitality REIT and Far East Hospitality Trust. Its units are have closed the day flat at S$0.865 from the previous week.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.