Suntec REIT to sell Australian assets as Boustead Singapore reports contained cyber breach
Suntec REIT will divest three Australian properties to focus on Singapore, while Boustead Singapore says a cyber incident at an overseas unit has been fully resolved.
Suntec REIT disclosed that it will dispose of three Australian properties located at 177 Pacific Highway, 21 Harris Street and 477 Collins Street, aiming to reduce overseas exposure and concentrate on growth in Singapore after a sponsor change from ESR Asset Management to Tang Organization in March. The REIT’s units closed at S$1.38 on Friday, up 0.7%. In a separate development, Boustead Singapore reported that an overseas business unit suffered a cybersecurity incident.
The company has finished a comprehensive investigation, informed the Personal Data Protection Commission and other relevant authorities, and fully recovered critical systems and data from backups. It stressed that the breach caused no material disruption to the affected unit or the broader group. Boustead’s shares finished at S$1.80, a 0.6% increase.
Why it matters
Both updates affect investor sentiment: Suntec REIT’s asset shift and Boustead’s cyber breach resolution signal operational and risk management changes.
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