VI-REIT is managed by Viva Industrial Trust Management Pte. Ltd. (the "REIT Manager"), which is wholly owned by Viva Investment Management Pte. Ltd ("VIM").
The REIT Manager's main responsibility is to manage VI-REIT's assets and liabilities for the benefit of the VI-REIT unitholders, through setting the strategic direction of VI-REIT and recommending the REIT Trustee on the acquisition, divestment, development and/or enhancement of assets of VI-REIT.
VI-BT is managed by Viva Asset Management Pte. Ltd. (the "BT Trustee-Manager"), which is wholly owned by VIM.
The BT Trustee-Manager has the dual responsibilities of safeguarding the interests of the VIT stapled securityholders, and managing the business conducted by VI-BT. The BT Trustee-Manager has general powers of management over the business and assets of VI-BT for the benefit of the VIT stapled securityholders as a whole.
- Distributions (if any) to be made by VI-BT, when activated, will be determined by the board of directors of the BT Trustee-Manager in its sole discretion.
- Presently dormant. In the event that VI-BT is appointed as lessee of the Hotel Component of UE BizHub EAST, the Trustee-Manager will appoint a third-party hotel operator to manage and operate the hotel component of UE BizHub East.
- Only activated when VI-BT is appointed as lessee of the Hotel Component.
- Viva iTrust MTN Pte. Ltd. is a wholly-owned subsidiary of VI-REIT, which was established on 28 August 2014 to act as the issuer of a S$500 million Multicurrency Medium Term Note Programme.
The REIT Manager's key objective is to provide stapled securityholders with a competitive rate of return, by ensuring stable distributions, as well as long-term growth in distribution per unit and net asset value per stapled security, while maintaining an appropriate capital structure.
- Source for and acquire assets in Singapore and elsewhere in the Asia Pacific region that fit within the REIT Manager's investment criteria to provide attractive cash flow and yields relative to VI-REIT's weighted average cost of capital, and to pursue opportunities for future income and capital growth.
- Proactively implement measures and work closely with the Master Lessees to improve the returns from the property.
- Proactively manage and improve the leasing profiles of the other non-master-leased properties.
- Measures could include active leasing, marketing of any vacancies and expiring leases, tenant management and retention, mitigating any risks relating to new leases and leases renewals, implementing programmes for regular maintenance and building upgrades, and asset refurbishment and enhancement initiatives.
- Employ an appropriate mix of debt and equity in financing acquisitions and utilise interest rate and currency hedging strategy where appropriate.
- Minimise exposure to market volatility and optimise risk-adjusted returns to stapled securityholders.
- Selectively undertake development activities that are able to enhance the value of the portfolio, including build-to-suit developments.
- Divest mature assets as and when appropriate to free up capital for re-deployment towards better growth opportunities.