The healthcare sector offers immense opportunities, underpinned by factors such as the structural demographic megatrend of ageing population, and a demand for quality healthcare services in markets that lack capacity.
To capture the immense opportunities in the healthcare sector, and to ensure sustainable long-term growth to maximise returns for all stakeholders, First REIT is guided by its ‘2.0 Growth Strategy’, comprising the following four well-defined strategic pillars:
Since unveiling First REIT 2.0 Growth Strategy in December 2021, First REIT has achieved numerous milestones as set out below.
Extended the Hak Guna Bangunan (HGB) title for Siloam Hospitals Lippo Cikarang for another 20 years to 5 May 2043
Received unitholders’ approval during an Extraordinary General Meeting (EGM) for the proposed acquisition of 12 nursing homes in Japan and for the proposed settlement in respect of the terminated development works adjacent to Siloam Hospitals Surabaya (SHS)
FY2021 results announcement; declared 4Q2022 DPU of 0.66 Singapore cents
Completed the acquisition of 12 nursing homes which are strategically located across Japan, a new market for First REIT
Successfully priced Singapore’s first healthcare social bond – S$100 million in aggregate principal amount with 3.25% annual coupon rate and guaranteed by Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank
Established the inaugural Social Finance Framework, which creates a platform for the issuance of bonds and loans granted on achieving specific social benefit outcomes and the United Nations Sustainability Development Goals
Convened 13th Annual General Meeting via webcast
1Q2022 business update announcement; declared DPU of 0.66 Singapore cents
Announced the proposed divestment of SHS for S$40.9 (Based on an million illustrative exchange rate of S$1.00 = Rp.10,526)
Received full settlement amount of S$30.6 million for the proposed settlement in respect of the terminated development works adjacent to SHS
Received unitholders’ approval during an EGM for the proposed divestment of SHS
1H2022 results announcement; declared 2Q2022 DPU of 0.66 Singapore cents
Launched cash tender offer for S$60.0 million subordinated perpetual securities
Successfully received acceptance of approximately 45% for tender offer for outstanding perpetual notes before the expiry of cash tender offer
Announced the proposed acquisition of Loyal Residence Ayase and Medical Rehabilitation Home Bon Sejour Komaki for JPY2.6 billion
Completed the acquisition of Medical Rehabilitation Home Bon Sejour Komaki
Completed the acquisition of Loyal Residence Ayase
Secured a JPY1.66 billion Social Loan from Shinsei Trust Bank, Limited.
9M2022 business update announcement; declared 3Q2022 DPU of 0.66 Singapore cents
Obtained a term loan facility of S$225.0 million and a revolving credit facility of S$75.0 million from Oversea-Chinese Banking Corporation Limited and CIMB Bank Berhad, Singapore Branch
Executed option for extension of master lease for Imperial Aryaduta Hotel & Country Club for a further one year