IOIPG group chief financial officer Leow Weng Seong says the group acknowledges the concerns, but emphasises that the asset is a “high-quality, income-generating office property” capable of delivering stable recurring income.
IOI Properties Group’s (IOIPG) $2.48 billion acquisition of a prime office asset in Singapore’s Central Business District (CBD) has raised concerns about the group’s gearing levels.
Net gearing is expected to rise to 1.03 times after the deal, according to the group’s announcement last Monday. This comes even after adjusting for the asset disposal under its much-anticipated Malaysia REIT listing in the fourth quarter of 2026.
