The weekly round-up continues with interesting snippets from various companies during the week.
Parkway Life REIT (SGX: C2PU)
Parkway Life REIT is in a league of its own, being one of the only REITs that can boast an uninterrupted increase in its recurring distribution per unit (DPU) since its IPO in 2007.
This week, the healthcare REIT announced the signing of new master lease agreements for its three Singapore hospitals.
The new lease agreements will run for around 20.4 years, from 23 August 2022 till 31 December 2042.
Beyond the initial term, Parkway Life REIT has the option to renew these leases for a further 10 years till 31 December 2052.
The new leases are signed with IHH Healthcare Berhad (SGX: Q0F), an international healthcare services provider that employs 65,000 staff across 80 hospitals in 10 countries.
As part of the agreement, Parkway Life REIT will also commit a one-time capital expenditure (capex) of S$150 million to revamp all three Singapore hospitals....