First REIT surges by 3.9% on hope of jettisoning Indonesia assets

Units of Singapore Exchange (SGX)-listed First REIT finished the trading day on 14 January at nearly 4% higher than its previous close, given hopes that it may soon dispose of all of its Indonesia assets.

First REIT is a healthcare REIT that owns a portfolio of hospitals and nursing care assets, most of which are located across Indonesia.

The REIT has been trying to pivot away from Indonesia in favour of more developed markets.

Related: First REIT on track to pivot out of Indonesia despite initial challenges