Public Announcement: This will be the last article covering Keppel Pacific Oak US REIT (“KORE”) till further notice. The reason is due to the uncertainty of the US commercial property market, and KORE has suspended its dividend since last year to buffer for potential leverage issues. This means that KORE currently presents itself as a high risk to reward ratio opportunity for those willing to take the risk for a recovery play. Furthermore, KORE also has a small market capitalization of USD250 million as of 7 February 2025. A small market capitalization would mean that it is easily susceptible to speculation, and investors with larger holdings may face issues liquidating their positions. On 4 February 2025, KORE announced their full year result for FY2024. Compared to the previous financial year, there is a smaller write-down of valuations in investment properties by USD46 million for FY2024. Investors will need to assess if this is an indicator of stabilization, as noted that occupancy rate has increased...