Sovereign wealth fund Temasek Holdings has increased its stake in Singapore-listed Retail REIT CapitaMall Trust (SGX: C38U). The firm’s deemed interest in the REIT went up from 27.97 per cent to 28.01 per cent following the purchase of 1,192,000 voting units by DBS Group Holdings Limited.

CapitaMall Trust is Singapore's premier Retail REIT with shopping malls in prime locations across the island.

DBS is an associated company of Temasek through which Temasek derives its deemed interest in the voting units of CapitaMall Trust. Besides DBS, Temasek Holdings also derives its interest in the REIT via Capitaland Limited and Keppel Corporation Limited. The sovereign wealth fund does not have any direct interest in the voting units of CapitaMall Trust.

The 1,192,000 units in CapitaMall Trust were acquired by DBS Bank for an aggregate of $2,346,428.16, translating to approximately S$1.97 paid per unit. Units of CapitaMall Trust are currently trading on the SGX for S$1.98 apiece.

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.