First REIT Plans 471.5 Million Singapore Dollars Indonesian Asset Divestment, Sets Jun 08 Dialogue

SGX Filings
May 21

First Real Estate Investment Trust (AW9U) said on Apr, 01 2026 that it has agreed to divest Indonesian assets valued at 471.5 million Singapore dollars, a 2.1 % premium to valuation.

The “Proposed Hospital Divestments” cover eight hospitals to be sold to PT Siloam International Hospitals Tbk for about 389.2 million Singapore dollars, a 2.8 % premium to the average of the two latest independent valuations.

The “Proposed Non-Core Divestments” include two non-hospital properties to PT Lippo Karawaci Tbk for 53.3 million Singapore dollars and a conditional prepaid lease of commercial rights at Lippo Plaza Kupang to PT Bumi Sarana Sejahtera for 29.1 million Singapore dollars.

First REIT has also signed Put Option Agreements that could allow the trust to divest its remaining six Indonesian hospitals for approximately 294.8 million Singapore dollars, subject to unitholder approval if the options are exercised.

A unitholder dialogue organised with the Securities Investors Association (Singapore) is scheduled for Jun, 08 2026 from 7:00 p.m. to 8:00 p.m. Unitholders must pre-register by 4:00 p.m. on Jun, 05 2026 and are encouraged to submit questions by 12:00 p.m. on Jun, 03 2026.

Details of the proposed transactions and the related resolutions will be provided in a circular ahead of an upcoming extraordinary general meeting.

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