Soilbuild REIT's property at Pioneer Sector 1. (Photo: Google Maps)

As part of a ruling by the Singapore High Court, Soilbuild Business Space REIT (Soilbuild REIT) is set to receive SGD100,000 (USD74,000) from its distressed tenant at 2 Pioneer Sector 1.

The sum is to be paid by the tenant, NK Ingredients, as part of rent, and other fees owed to the REIT for the month of April 2019.

NK Ingredients is currently in default of its lease agreement with Soilbuild REIT, and had applied to the High Court for a moratorium on payments owed to its creditors.

Read: Soilbuild REIT’s tenant at Pioneer Sector 1 at risk of judicial management

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.