Far East Hospitality Trust's Riverside Village Residences (Photo: REITsWeek)Far East Hospitality Trust's Riverside Village Residences (Photo: REITsWeek)

Wealth management company Aberdeen Asset Management Asia Limited purchased 1.291 million units of Singapore-listed Far East Hospitality Trust (SGX:Q5T) on 5 May.

In a statement filed with the Singapore Exchange, Aberdeen indicated that the units were purchased as investment manager for various clients and funds.

The units were purchased for a total price of SGD1.142 million, translating to a price of SGD0.88 per unit and increases the wealth manager’s total holdings in the trust to 124.8 million units. This represents a stake of about 7.05%, up from 6.98% previously.

Units of Far East Hospitality Trust fell 1.14% from its previous close to end at SGD0.87 on the Singapore Exchange.

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.