Keppel REIT Koh Wee Lih

Now two years into his tenure as the CEO of Keppel REIT’s manager, REITsWeek interviewed Koh Wee Lih to understand what has changed, and what his plans are for the future of the REIT.

In a move that might have been considered unusual among many of its peers in the Singapore REITs universe then, Keppel REIT moved in early to pre-empt an inevitability - rising interest rates.

At that time, the US Federal funds effective rate had been close to zero for almost two years and REITs were generally buoyed by cheaper access to capital, which in turn fuelled growth.

But amidst this optimism, Keppel REIT took an early decision to increase the hedge ratio of its fixed rate borrowings from 63% to 76%, even before rates started climbing around March 2022.

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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.