First REIT is a Singapore healthcare real estate investment trust (REIT) that invests in healthcare and healthcare-related real estate assets throughout Asia. Managed by Bowspirit Capital Corporation Limited, the REIT has a portfolio of 20 properties across Asia: 16 properties operating under the Siloam Hospitals Group in Indonesia, three nursing homes in Singapore, and a hospital in South Korea. As of 31 December 2017, First REIT has S$1.35 billion in assets under management.
This year, there was a change in leadership. Chairman Albert Saychuan Cheok and chief executive officer Dr Ronnie Tan retired after many years of service and were replaced by Carl Gabriel Florian Stubbe and Victor Tan Kok Mian respectively. I attended First REIT’s annual meeting to evaluate its past year’s performance and its outlook ahead.
Here are eight things I learned from the 2018 First REIT AGM:
1. Gross revenue grew by 3.72% to $110….