Attended the Manulife Reit (“MUST”) Corporate Presentation earlier today organized by SmartKarma and SGX. Thought it would be useful for current and potential investors if I summarized the key points that were discussed during the presentation, as well as management’s responses to some of the questions raised by the participants. Firstly, some generic information about MUST. MUST was listed on the SGX in 2016 with three properties. Since then, MUST has grown its AUM via acquisitions, and now owns a total of nine office assets across the US. As of 31 Mar 2021, MUST’s key financial metrics include a gearing ratio of 41.3%, weighted average interest rate of 3.18%, weighted average debt maturity of 2.1 years and a 3.5x interest coverage ratio. Portfolio metrics as of 31 Mar 2021 include a 92% occupancy rate, 5.3 years WALE, and 2.1% annual portfolio rental escalations. There were a few questions regarding the impact of Covid-19, and management indicated that they believe offices will still be relevant post-covid,...