Viva Industrial Trust UE BizHub EASTViva Industrial Trust's BizHub EAST.

Chinese billionaire property developer Tong Jinquan has transferred 13 million units of Singapore listed industrial stapled security Viva Industrial Trust (VIT) (SGX:T8B) from a company he owns, Wealthy Fountain Holdings, to his name.

Wealthy Fountain Holdings is wholly-owned by Tong Jinquan through his direct interest in Shanghai Summit Pte Ltd.

A filing with the Singapore Exchange indicates that the transfer was done on 18 July 2014 at a price of SGD0.78 per unit, bringing the estimated amount of funds moved to about SGD10.1 million.

With the transfer, Tong is now deemed to own a total of 52.873 million units in VIT, representing a stake of 8.83% in the stapled security while Wealthy Fountain Holdings continues to hold on to 332.5 million units in VIT, representing a stake of about 55.55%.

Units of VIT are currently listed on the Singapore Exchange at SGD0.805.

Tong is known to be an avid investor of Singapore-listed REITs and stapled securities. Besides VIT, the billionaire has substantial holdings in industrial REITs Sabana REIT and Cambridge Industrial Trust, and retail REIT Lippo Malls Indonesia Retail Trust.

Viva Industrial Trust UE BizHub EAST
Viva Industrial Trust's BizHub EAST.

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.