MI-REIT – SGX
MACARTHURCOOK INDUSTRIAL REIT’s PORTFOLIO VALUE INCREASES BY S$30.6 MILLION FOLLOWING ANNUAL REVALUATIONS
MacarthurCook Investment Managers (Asia) Limited (“MCKIM Asia”), the Manager of SGXST
listed MacarthurCook Industrial REIT (“MI-REIT”), is pleased to announce today that
independent annual revaluations1 for six of MI-REIT’s properties (the ”Properties”) have been completed.
The revaluations have resulted in an increase of S$30.6 million to MI-REIT’s book value, representing a 9.7% gain over the appraised value2 of the Properties as at the Listing Date of 19 April 2007. The revaluations, which have been completed in accordance with the relevant accounting standard, Financial Reporting Standard 40 Investment Property, and the Property Fund Guidelines, have raised MI-REIT’s total portfolio value to S$346,800,000.
The largest rise in valuation came from MI-REIT’s largest property by value, UE Technology Park, which saw a revaluation gain of S$23.9 million, or 21.0%.
2 Appraised value of total portfolio is S$316.2 million, as at Listing Date on 19 April 2007. Valuations were issued on 15 November 2006.
Source : SGX