On 26 November 2021, JER EXC updated on trading including legal changes. JER EXC board of directors issued update on recent trading and outlook for 2021. Board is reviewing options for the return of capital to shareholders during 2022. Draft finance bill 2022 has changes which may impact new, possibly existing, listings. Follows UK Treasury…
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Thailand – SEC Investment Trust Offering
On 11 June 2021, Thai SEC made amendments to rules on disclosures for REITs. ThorChor. 47/2564 on issuance and offering of trust units of REITs, to add REITs with redemption clause and REITs with conditions for termination of the lease agreement. Sor. 38/2564 on contents of the trust deed of REITs, re appraisal of assets…
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Hong Kong – SFC Changes to Code On REITs
On 9 June 2020, HK SFC proposed changes to the code on REITs. Amend code on REITs to provide HK REITs with more flexibility in making investments. Proposed Changes Allows REITs to make investments in minority-owned properties and in property development projects in excess of the existing limit of 10% of gross asset value (GAV).…
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Philippines – SEC Regulations Governing REITs
On 29 January 2020, PHI Tax amended tax provisions on REIT act, effective immediately. Definitions of public company and reinvestment plan amended; section renumbered. Amended to include affidavit of undertaking and reinvestment plan under documents. Added under transfer of real property section that transfer of property to a REIT in exchange for its shares is…
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Thailand – SEC REIT Fund Disclosures
On 24 January 2020, Thai SEC proposed changes to REIT, INViT disclosures. Thai SEC opened consultation on draft improvements to property funds disclosures. Including infrastructure funds and REITs or mutual funds/trusts that invest in leasehold or leasehold income so that investors have the information necessary for decisions. While also updating the disclosure form for fund and trust…
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Philippines – SEC REIT Public Ownership
On 4 October 2019, PHI SEC proposed amendments to the REIT Act. Proposed amendments will relax minimum public ownership requirement, impose rules on reinvestment of REIT proceeds and enhance controls for related party transactions. Amendments Adjusted minimum public ownership requirement to the level prescribed by REIT Act. Included reinvestment requirement for REIT sponsor or promoter…
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