Positioned to capitalise on the growing demand for healthcare services in Asia, First REIT is a Singapore-based real estate investment trust which aims to invest in a diversified portfolio of income producing real estate and/or real estate related assets in Asia that are primarily used for healthcare and/or healthcare-related purposes. First REIT is sponsored by PT Lippo Karawaci Tbk, Indonesia's largest broad-based property company listed on the Jakarta and Surabaya stock exchanges (1).
First REIT is managed by Singapore-based Bowsprit Capital Corporation Limited, which not only sets the strategic direction of First REIT but also give recommendations to the Trustee on the acquisition, divestment or enhancement of assets of First REIT. Its current portfolio consists of ten properties strategically located in prime locations in Indonesia, Singapore and South Korea.
Based on market capitalisation on the Jakarta Stock Exchange ("JSX") and the Surabaya Stock Exchange ("SSX"), of Rp. 5.16 trillion (approximately S$900.0 million) based on the closing price per ordinary shar on the JSX of Rp. 900.0 as at 20 September 2006.
