Broker Name: Maybank Research Pte Ltd
Date of Report: January 26, 2026

Excerpt from Maybank Research Pte Ltd report.

Report Summary

• Suntec REIT’s FY25 DPU surged 13.6% YoY to SGD 7.035 cents, driven by significant interest savings, strong rental reversions in Singapore, and retention of tax status in Australia. The cost of debt fell, with further declines expected, and gearing remained stable.
• The outlook is positive, with high single-digit rental reversions forecast for retail and mid-single digit for office in Singapore. Overseas assets are expected to see improved occupancy, and a strategic review is likely under new management, including potential asset monetisation and portfolio reconstitution. Target price is raised 11% to SGD 1.56 with a maintained BUY rating.

Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank website : https://www.maybank-keresearch.com