ESR REIT: Intention of Rbc Investor Services Trust Singapore Limited to retire as trustee of Esr-REIT


(Incorporated in the Republic of Singapore by Trust Deed dated March 31, 2006 (as amended))



ESR Funds Management (S) Limited, as manager of ESR-REIT (the “Director“) wishes to announce that the Manager has been notified by RBC Investor Services Trust Singapore Limited of its intention to withdraw as trustee of ESR-REIT (the “Curator“, and such communication of intent to retire as the “Communication“). The Manager understands from RBC Investor Services Trust Singapore Limited that it intends to cease providing trust services for all collective investment schemes authorized in Singapore.

For the avoidance of doubt, the Communication should not be deemed to be the Trustee’s retirement notice pursuant to Clause 23.2 of the Deed of Trust originally dated March 31, 2006 (as may be amended, supplemented, restated or amended from time to time, collectively, the “Deed of trustThe Trustee will give the required notice of retirement in writing to the Manager in accordance with the provisions of the Trust Indenture at a later date in the future, after which the Manager will announce such notice of retirement and the proposal incoming trustee.

Notwithstanding the foregoing, the Trustee will continue to perform his duties pursuant to the Trust Indenture until the effective date of his retirement and the appointment of the new Trustee. The Manager is currently in the process of appointing an Incoming Trustee and will work with the Trustee and the Incoming Trustee to ensure a smooth transition for this change in Trustee.


ESR Funds Management (S) Limited

As Manager of ESR-REIT

(Company Registration No. 200512804G, Financial Markets Services License No. 100132)

Adrian Chui

CEO and Executive Director

March 8, 2022

For more information, please contact:

ESR Funds Management (S) Limited

Gloria stockings

Lyn Ong

Corporate Communications Manager

Investor Relations Manager

Tel: +65 6827 9332

Tel: +65 6827 9504

E-mail: [email protected]

E-mail: [email protected]


ESR-REIT has been listed on the Singapore Exchange Securities Trading Limited since July 25, 2006.

ESR-REIT invests in quality income-producing industrial properties and, as of December 31, 2021, holds an interest in a diversified portfolio of 56 properties located across Singapore, with a total gross area of ​​approximately 15.3 million square feet and a total property value of S$3.2. billion1. The properties are in the following business sectors: Business Park, High-tech Industry, Logistics/Warehouse and General Industrial, and are located close to major transport hubs and key industrial areas across the country. island.ESR-REIT also holds a 10.0% equity interest in ESR Australia Logistics Partnership, a private fund comprising 36 primarily freehold logistics properties, all located in Australia.

The manager’s objective is to provide unitholders with a stable stream of income through the successful implementation of the following strategies:

  • The acquisition of valuable properties;
  • Proactive asset management;
  • Assignment of non-essential properties; and
  • Prudent capital and risk management.

ESR Funds Management (S) Limited, the manager of ESR-REIT, is notably owned by ESR Cayman Limited (“CSR“) (67.3%), Shanghai Summit Pte. Ltd. (25.0%) and Mitsui & Co., Ltd (7.7%).

For more information on ESR-REIT, please visit

About the sponsor, ESR

ESR is APAC’s largest real estate asset manager powered by the new economy and the third largest listed real estate investment manager in the world. With $140 billion in gross assets under management (AUM), ESR’s fully integrated development and investment management platform spans major APAC markets including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, accounting for over 95% of GDP in the APAC region, and also includes a growing presence in Europe and the United States. most significant secular trends in APAC. With 14 publicly traded REITs managed by ESR and its associates, ESR is the largest sponsor and manager of REITs in the APAC region with total assets under management of US$45 billion. Objective of ESR – Space and investment solutions for a sustainable future

  • drives it to manage sustainably and impactfully and ESR views the environment and the communities in which it operates as key stakeholders in its business. Listed on the Main Board of the Hong Kong Stock Exchange, ESR is part of the FTSE Global Equity (Large Cap) Index Series, the Hang Seng Composite Index and the MSCI Hong Kong Index. More information is available at

1 Includes 100% of the valuation of 7000 Ang Mo Kio Avenue 5 and 48 Pandan Road, in which ESR-REIT holds an 80% interest in 7000 Ang Mo Kio Avenue 5 and a 49% interest in 48 Pandan Road, but excludes effects arising from the adoption of Financial Reporting Standard (FRS) 116 Leases entered into force on January 1, 2019.


Important Notice

The value of the shares in ESR-REIT (“Units“) and the income from them may go down as well as up. The Units are not investments or deposits, nor liabilities or obligations of ESR Funds Management (S) Limited (“Director“), RBC Investor Services Trust Singapore Limited (in its capacity as trustee of ESR-REIT) (“Curator“), or any of their respective related companies and affiliates (individually and collectively “Affiliates“). An investment in the Units is subject to the risk of equity investment, including delays in repayment and loss of income or principal amount invested. Neither ESR-REIT, the Manager, the Trustee nor any of its affiliates does not guarantee repayment of any principal amount invested, the performance of ESR-REIT, any particular rate of return of an investment in ESR-REIT, or any tax consequences of an investment in ESR-REIT. Any indication of the returns of ESR-REIT’s performance is historical and should not be relied upon as an indicator of future performance.

Investors do not have the right to ask the manager to redeem or purchase their units as long as the units are listed. It is intended that investors may only trade in their Units through trading on the Singapore Exchange Securities Trading Limited (the “SGX-ST“). The listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, results and results may differ materially from those expressed in forward-looking statements due to a number of risks, uncertainties and assumptions. Representative examples of such factors include (but are not limited to) general industry conditions and the economy, interest rate trends, cost of capital and availability of capital, competition from similar developments, changes in expected levels of occupancy or rental income, changes in operating expenses , changes in government and public policy and the continued availability of funding in the amounts and on the terms necessary to support activities futures of ESR-REIT. on these forward-looking statements, which are based on the Manager’s current view of future events.

This announcement is for informational purposes only and does not take into account your specific investment objectives, financial situation or special needs. Any information contained in this announcement should not be construed as investment or financial advice and does not constitute an offer or invitation to invest in ESR-REIT or any investment or product or to subscribe to any services offered by the Manager, the trustee or any of the Affiliates.



ESR-REIT published this content on March 08, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on March 08, 2022 14:42:11 UTC.

Public now 2022

Sales 2021 244M
Net income 2021 115 million
83.9 million
83.9 million
Net debt 2021 1,300 million
PER 2021 ratio 14.5x
2021 performance 7.20%
Capitalization 1,695 million
1,241 million
1,241 million
EV / Sales 2021 12.3x
EV / Sales 2022 11.5x
# of employees
Floating 67.7%

Duration :

Period :

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Medium consensus TO BUY
Number of analysts 6
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Average Spread / Target 21.8%


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