In late 2025, I was seriously contemplating investing in Keppel REIT. That was before Keppel REIT share price blew up in pieces. More than half a year later, I still broke out in cold sweat after dodging the deadly bullet. Investors of Keppel REIT must be feeling angry with Keppel. After Keppel REIT share price charged up to a 2-year of $1.10 in November 2025, the Manager dropped the bombshell of exercising its pre-emptive rights to acquire the remaining one-third stake in Marina Bay Financial Centre (MBFC) Tower 3 from Hongkong Land for a whopping S$1.45 billion. While that mega deal did bomb out Keppel REIT share price, Keppel compounded matters further. To support the acquisition, Keppel REIT has launched a mega Equity Fund Raising (EFR) of $886.3 million, leading to 923 million of new units flooding the market. To make matters worse, this mega EFR came right after the $113 million Private Placement in October 2025 to help fund...