THE managers of Ascendas Real Estate Investment Trust , Ascendas Hospitality Reit and Ascendas Hospitality Business Trust said on Wednesday that they are changing the Reits' and managers' financial year-ends to Dec 31.
The current financial year will be a nine-month period from Apr 1, 2019 to Dec 31, 2019. Thereafter, the financial year will be a 12-month period ending on Dec 31 each year. The move is to align with the change in financial year-end of the managers' holding company Ascendas Investments Pte Ltd, which is a subsidiary of Ascendas Pte Ltd, an investment arm of Ascendas-Singbridge.
Ascendas-Singbridge was acquired by CapitaLand on June 30, and the enlarged CapitaLand Group began operating as a unified entity on July 1.
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