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

750,000 units of Far East Hospitality Trust were transferred to Golden Development Pte Ltd on 7 June, managers for the Singapore-listed stapled security announced on the same day.

Golden Development is a substantial unit holder of the stapled security and a business unit of Far East Organization Group, the sponsor of Far East Hospitality Trust.

The units were transferred at a price of SGD0.6077 a piece and brings Golden Developmentā€™s holding in the security to 37,334,959 units, representing a stake of some 2.08%.

The total number of Far East Hospitality Trust stapled securities in issue remains at 1,795,753,959 as at 7 June 2016.

Units of Far East Hospitality Trust finished 1.65% higher from its previous close on the Singapore Exchange at SGD0.615.

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.