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 Singapore REITS, S-REITS

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SUSTOS
post Apr 26 2023, 07:40 AM

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1Q 23 business update from some REITs.

Capitaland Ascott Trust: https://links.sgx.com/FileOpen/1Q%202023%20...t&FileID=756094

ESR-Logos: https://links.sgx.com/FileOpen/E-LOG_1Q2023...t&FileID=756095

Suntec REIT: https://links.sgx.com/1.0.0/corporate-annou...0fa1301af5a0ab0

Frasers Centerpoint Trust half-year result: https://links.sgx.com/1.0.0/corporate-annou...604bec7e50c08fb

This post has been edited by TOS: Apr 26 2023, 07:43 AM
SUSTOS
post Apr 26 2023, 06:04 PM

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More S-REITs 1Q 23 business update:

Digital Core REIT: https://links.sgx.com/FileOpen/Digital%20Co...t&FileID=756168

Capitaland India Trust: https://links.sgx.com/FileOpen/CLINT%20Busi...t&FileID=756161

Starhill Global REIT: https://links.sgx.com/FileOpen/SGX%20Announ...t&FileID=756363

This post has been edited by TOS: Apr 26 2023, 10:45 PM
SUSTOS
post Apr 27 2023, 09:03 AM

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Elite Commercial REIT 1Q 23 business update: https://links.sgx.com/1.0.0/corporate-annou...606d2830da90df7
SUSTOS
post Apr 27 2023, 06:47 PM

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Lippo Mall Indonesia Retail Trust 1Q 23 results: https://links.sgx.com/1.0.0/corporate-annou...d56a13161e23e66
SUSTOS
post Apr 27 2023, 08:30 PM

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Mapletree Pan Asia Commercial Trust 4Q FY22-23 result: https://links.sgx.com/1.0.0/corporate-annou...ce7633907eb15b3
SUSTOS
post Apr 27 2023, 08:42 PM

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Mapletree Industrial Trust 4Q FY22-23 result: https://links.sgx.com/1.0.0/corporate-annou...5f618dc22b58646

There is a huge 111 million SGD "net fair value loss on investment properties and investment property under development", pulling the whole 4Q result into a lost despite rental income rising marginally.

This post has been edited by TOS: Apr 27 2023, 08:50 PM
SUSTOS
post Apr 27 2023, 10:33 PM

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WSJ

Commercial Property Is Sputtering. Just Ask the ‘Real Estate King’ of Sweden.
Ilija Batljan, one of Europe’s most indebted property tycoons, is selling buildings to stabilize an empire built during ultralow interest rates

https://www.wsj.com/articles/commercial-pro...share_permalink

-----------------------

WSJ U.S.

Fire Sale: $300 Million San Francisco Office Tower, Mostly Empty. Open to Offers.
350 California Street was worth $300 million four years ago. It might sell for 80% less now, brokers say, in a market where office vacancy rates have soared.

https://www.wsj.com/articles/san-francisco-...share_permalink
SUSTOS
post Apr 28 2023, 08:11 AM

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CICT 1Q 23 business update: https://links.sgx.com/FileOpen/1Q%202023%20...t&FileID=756871

Some more hospitality trusts results/business updates:

Frasers Hospitality Trust: https://links.sgx.com/1.0.0/corporate-annou...8bad87fff535473

CDL Hospitality Trust: https://links.sgx.com/1.0.0/corporate-annou...05652a10b9231f4

Far East Hospitality Trust: https://links.sgx.com/FileOpen/FEHT%201Q%20...t&FileID=756870


SUSTOS
post Apr 28 2023, 01:29 PM

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QUOTE(elea88 @ Apr 28 2023, 01:11 PM)
wanna ask

in LHDN form

there is a section

PENDAPATAN PUNCA LUAR MALAYSIA YANG DITERIMA DI MALAYSIA YANG DIKECUALIKAN CUKAI

declare the dividend or not?
*
As individual resident taxpayer in Malaysia, you don't have to pay tax on S-REITs dividends in form BE even if you receive it via brokers in Malaysia. The reason can be found in guideline LHDN.AG.600-1/7/3 issued by LHDN.

English version: https://www.hasil.gov.my/media/p0lntthw/202...d-amendment.pdf

Malay version: https://www.hasil.gov.my/media/gggaite3/202...ara-pindaan.pdf

Have a look at page 22 of English version:

» Click to show Spoiler - click again to hide... «


And page 24 of the Malay version:

» Click to show Spoiler - click again to hide... «


IRAS Singapore does not tax individuals for S-REITs dividends, so it's not subject to tax in Malaysia either.

This post has been edited by TOS: Apr 28 2023, 02:38 PM
SUSTOS
post Apr 28 2023, 02:27 PM

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QUOTE(elea88 @ Apr 28 2023, 02:02 PM)
question is not about taxable or not. its about to declare or not.pros and cons :
nEGARA: SINGAPORE
Jenis Pendapatan : DIVIDEN
cukai di bayar di negara asal : ya
jumlan cukai dikenakan di negara asal : 0 (zero)
amount pendapatan diremitkan...  RM XXXXx
so if the dividend is being REMITED to Msia.. have to declare?

if dividend not remited back but sitting in SG.. no need to declare ?

lets discuss since still hv time before submission
*
QUOTE(elea88 @ Apr 28 2023, 02:11 PM)
The div is being remitted back to Msia bank as and when its received.
Retiree but have not close the LHDN ac.

This person have no broker. the shares were bought 20 yrs ago...
the LHDN form 2022 clearly states:
AMOUNT PENDAPATAN DI REMITKAN.

so compile whole year 2022 and put the figure there?

or dun bother ?
*
Ok, I studied the tax forms further... I got the idea now. Ignore B14, B15 and B16c, leave those 3 rows empty.

If you receive dividends from S-REITs via Malaysia-based brokerage, you declare the S-REITs dividends you receive in bahagian K (part K). Should declare all dividends received throughout 2022, so yes, whole year 2022.

Country code: SG
Type of Income (Jenis Pendapatan): b) Dividen
Tax paid In The Country Of Origin (Cukai Dibayar Di Negara Asal): 2 (No)
Headline Tax Rate In The Country Of Origin (Kadar Cukai Headline Di Negara Asal): 17% (highest corporate tax rate in SG is 17%)
Amount Of Tax Charged In The Country Of Origin: 0
Amount of Income Remitted: (Your SGD dividends received multiply by the SGD.MYR rate on the day you receive your S-REITs dividend in Malaysia)

Source: LHDN, in particular you guys should read the BE 2022 Explanatory Notes.

---------------------

For those receiving dividends via SG/US/UK/HK brokers, can just ignore bahagian K completely, since the dividends are paid to your foreign brokerage account and not brought back to MY anyway.

For further details, need to ask our tax expert Hansel.

This post has been edited by TOS: Apr 28 2023, 02:34 PM
SUSTOS
post Apr 28 2023, 04:38 PM

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QUOTE(elea88 @ Apr 28 2023, 04:30 PM)
you are SUCH A GREAT HELP....

give u plenty LIKE!

btw the div is from SG BANKS.. same thing right?
*
Yes, same thing for dividends from SG banks.

For other countries/jurisdictions, e.g. HK stocks/US stocks/US Treasury bills/ETFs etc. you will need to change the whole row in bahagian K accordingly (based on the respective country code, tax paid, headline tax etc.)

Most info should be straightforward to fill in; the more challenging part would be to determine the headline tax rate, which is the maximum corporate tax rate of the jurisdiction(s). The fastest way to check for headline tax rate is via this webpage: https://taxsummaries.pwc.com/quick-charts/c...e-tax-cit-rates

One last thing to note if you have placed foreign currency FDs in say, Singapore (e.g. CIMB SG FD) and bring back the money, the interests earned will need to be declared as well... Lots of cumbersome paperwork, despite not having to pay any tax...

This post has been edited by TOS: Apr 28 2023, 05:51 PM
SUSTOS
post Apr 28 2023, 05:39 PM

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QUOTE(Wedchar2912 @ Apr 28 2023, 05:38 PM)
I am confused. In this example, if one is not remitting back here, why need to declare?
*
Ya, sorry, I should add, in case you bring back the FD money. Good catch.
SUSTOS
post Apr 28 2023, 06:47 PM

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QUOTE(prophetjul @ Apr 28 2023, 06:05 PM)
TOS

Presumably the SG dividends are exempt from tax due to this condition: The income has been subjected to tax in the
country of origin. ?
*
Referring to the BE 2022 explanatory note link:

» Click to show Spoiler - click again to hide... «


IRAS Singapore has made it very clear that "an individual" is "a qualifying unit holder" which "will receive distributions from the trustee of a REIT without deduction of tax." (Of course, I assume there is no complex arrangements like through trustee or via partnerships etc.)

So, S-REITs dividends are "not subject to tax in the country of origin due to the country's taxation system."

https://www.iras.gov.sg/media/docs/default-...rsn=69897e04_27 (see section 3.4, page 6/46 of the PDF for definition of qualifying unit holder and section 8.3, page 14/46 of the PDF for the actual tax treatment, i.e. exemption).

IRAS e-tax guide can be downloaded from here: https://www.iras.gov.sg/quick-links/e-tax-g...1&topics=Trusts

This post has been edited by TOS: Apr 28 2023, 07:07 PM
SUSTOS
post Apr 30 2023, 02:57 PM

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Dasin requests for further extension of time to publish FY 2022 results from 30th April to 30th June.

https://links.sgx.com/FileOpen/DASINRT%20-%...t&FileID=757531

Annual report issuance to be delayed from 30th June to 31st August.

and the most funny thing: AGM to be held delayed from 31st July to 30th September.

Holding FY2022 AGM almost at the end of 2023... laugh.gif

-----------------

Some updates they provided:

QUOTE
(i)The consensual restructuring exercise has taken longer than originally anticipated on account of there being a myriad of issues which required the unanimous support of the Lenders in order for the restructuring to carry. The Lender group comprises 20 domestic and offshore financiers;

(ii) FTI Consulting expects that the negotiation of the term sheet for debt restructuring (including a longer extension of the maturity dates under the Offshore Facility 1, Onshore Facility 1, Offshore Facility 2 and Offshore Facility 3, as well as Onshore Facility 2 and Onshore Facility 3) can only be concluded in late May and that the Lenders require about one month to obtain the necessary in-principle approval internally before the debt restructuring agreement can be prepared and executed;

(iii) The Board expects that more time is required to negotiate the MOU with the reputable Chinese entity, as announced on 17 January 2023 and 1 March 2023; and

(iv) As stated in the announcement dated 24 April 2023, Jones Lang LaSalle Corporate Appraisal and Advisory Limited provided preliminary independent valuations as at 31 December 2022 for the Group’s investment properties only on 31 March 2023 (instead of during the week beginning 13 March 2023 as originally anticipated). Delays in the valuation of the Trust’s retail assets has held back linchpin discussions around a planned orderly disposal of portfolio assets, and these linchpin discussions had only commenced on 19 April 2023.
SUSTOS
post May 1 2023, 03:38 PM

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MLT results: https://links.sgx.com/1.0.0/corporate-annou...bf75c26388c062f
SUSTOS
post May 1 2023, 11:53 PM

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EC World REIT's update on financing obligations:

https://links.sgx.com/FileOpen/ECW-Update%2...t&FileID=757578

And it's received the LAST approval from SGX-ST to delay its AGM to 27th July. SGX-ST will no longer grant any further AGM extension beyond 27th of July.

https://links.sgx.com/FileOpen/ECW-Receipt%...t&FileID=757579

--------------------

Dasin's response to SGX-ST's query on the lease termination of its malls announced last month.

https://links.sgx.com/FileOpen/DASINRT%20-%...t&FileID=757580

SUSTOS
post May 2 2023, 10:19 AM

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REIT Watch, from BT 010523:

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SUSTOS
post May 2 2023, 06:31 PM

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Ascendas REIT 1Q 23 business update: https://links.sgx.com/FileOpen/CapitaLand%2...t&FileID=757676
SUSTOS
post May 4 2023, 07:28 AM

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Ara US Hospitality Trust 1Q 23 business and operational update: https://links.sgx.com/1.0.0/corporate-annou...bfca30d7bfee41d

Frasers Logistics & Commercial Trust 1H FY23 result: https://links.sgx.com/1.0.0/corporate-annou...033e3656c44c76d
SUSTOS
post May 4 2023, 10:24 AM

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Hock Lock Siew stuff from BT 030523:

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