First REIT has addressed concerns among some investors that OUE Lippo Healthcare Limited (OUELH) might now inject its undesirable properties into the former’s portfolio, given its newly acquired stake in both the REIT and its manager.

The issue was raised during a Q&A session with the CEO of First REIT’s manager, Victor Tan, at an investors meeting organised by GCP Global on 9 March.

In October 2018, Catalist Board-listed OUELH received approval from its unitholders to acquire 400,000 ordinary shares of First REIT’s manager, representing a stake of 40%.

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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.