State-affiliated financial institution, DBS Bank Limited, has disposed of 0.5 million units of Singapore-listed hospitality REIT Ascott Residence Trust (Ascott REIT) (SGX:A68U).

The matter was revealed in a filing dated 5 March with Singapore Exchange by Singapore state fund manager Temasek Holdings. DBS is an independently managed portfolio company of Temasek.

The transaction was executed on the 26 February via a market transaction and netted DBS an aggregate SGD635,000, translating to about SGD1.27 per unit disposed.

Units of Ascott REIT are currently listed on the Singapore Exchange at SGD1.28.