The manager of Soilbuild Business Space REIT (Soilbuild REIT) yesterday announced the receipt of the amounts billed to NK Ingredients between 11 Jan 2018 to 26 Mar 2018. The manager has also received a top up of security deposit and is currently holding half the original security deposit. The original security deposit amounted to S$5.1m.

As of yesterday’s closing price, Soilbuild REIT is trading at FY18F yield of 8.0%. We see this as a positive development and place our Hold rating and fair value of S$0.68 under review.

Source: OCBC Research - 29 Mar 2018