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Error message
- Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/alfi/tes_website/sites/all/themes/tes/template.php).
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- Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/alfi/tes_website/sites/all/themes/tes/template.php).
- Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/alfi/tes_website/sites/all/themes/tes/template.php).
- Notice: session_start(): A session had already been started - ignoring in include() (line 2 of /home/alfi/tes_website/sites/all/themes/tes/templates/partials/modal_desktop.tpl.php).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/alfi/tes_website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
- Warning: Use of undefined constant REQUEST_URI - assumed 'REQUEST_URI' (this will throw an Error in a future version of PHP) in include() (line 46 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Notice: Trying to get property 'field_tags2' of non-object in include() (line 67 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Warning: Invalid argument supplied for foreach() in include() (line 67 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Notice: Trying to get property 'nid' of non-object in include() (line 71 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Notice: Trying to get property 'field_sections' of non-object in include() (line 71 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Notice: Trying to get property 'status' of non-object in include() (line 72 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Notice: Trying to get property 'type' of non-object in include() (line 78 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Notice: Undefined offset: 0 in getContentMeta() (line 479 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Notice: Undefined offset: 1 in getContentMeta() (line 480 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- Warning: preg_replace(): No ending delimiter '"' found in getContentMeta() (line 481 of /home/alfi/tes_website/sites/all/themes/tes/templates/html.tpl.php).
- User warning: The following module is missing from the file system: native_ad_mobile_app. For information about how to fix this, see the documentation page. in _drupal_trigger_error_with_delayed_logging() (line 1143 of /home/alfi/tes_website/includes/bootstrap.inc).
- User warning: The following module is missing from the file system: tes_new_module. For information about how to fix this, see the documentation page. in _drupal_trigger_error_with_delayed_logging() (line 1143 of /home/alfi/tes_website/includes/bootstrap.inc).
- Notice: Constant EVENT_INSERT already defined in require_once() (line 4 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_mobile_app/in_app_subscription/repositories/apple_subscription.repository.php).
- Notice: Constant EVENT_UPDATE already defined in require_once() (line 5 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_mobile_app/in_app_subscription/repositories/apple_subscription.repository.php).
- Notice: Constant REDIS_TTL_TAXONOMY already defined in include_once() (line 38 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_v2/tes_api_v2.module).
- Notice: Constant EVENT_INSERT already defined in require_once() (line 4 of /home/alfi/tes_website/sites/all/modules/custom/tes_gpt_summarize/repositories/tes_gpt_summarize.repository.php).
- Notice: Constant EVENT_UPDATE already defined in require_once() (line 5 of /home/alfi/tes_website/sites/all/modules/custom/tes_gpt_summarize/repositories/tes_gpt_summarize.repository.php).
- Notice: session_start(): A session had already been started - ignoring in include_once() (line 2 of /home/alfi/tes_website/sites/all/modules/custom/tes_simultaneous_login/tes_simultaneous_login.module).
- Warning: count(): Parameter must be an array or an object that implements Countable in _uc_line_item_list() (line 133 of /home/alfi/tes_website/sites/all/modules/ubercart/uc_order/uc_order.line_item.inc).
- Notice: Undefined index: issue_id in allow_view_pdf() (line 100 of /home/alfi/tes_website/sites/all/modules/custom/tes_pdf_viewer/tes_pdf_viewer.module).
- Notice: Trying to get property 'field_free_to_view_pdf' of non-object in allow_view_pdf() (line 101 of /home/alfi/tes_website/sites/all/modules/custom/tes_pdf_viewer/tes_pdf_viewer.module).
- Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
- Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
- Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
- Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
- Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/alfi/tes_website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
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Home Singapore REITs (S-REITs)
REITs
Chinese hospitality is the ‘best asset class’ in real estate right now: John Lim
The Singaporean billionaire who co-founded ARA Asset Management in 2002 believes the Chinese REIT market will “pick up” very soon and even rival the US’s US$1.27 trillion market.
October 09, 2025
Broker's Calls
DBS sees ‘spring’ for S-REITs; retail sub-sector preferred, mid-cap names seen offering alpha opportunities
Top picks include CICT, FCT, MPACT, MLT, Keppel REIT and Parkway Life REIT while mid-cap names include LREIT, Elite UK REIT and ESR REIT.
August 29, 2025
Global Economy
Short-term slowdowns due to uneven US trade policy and geopolitical shifts remain a risk, CGS economist Song Seng Wun
Singapore was described by the veteran economist as a “canary in the coal mine” with its high export-to-GDP ratio, which makes the city-state especially sensitive to global shifts.
June 04, 2025
Broker's Calls
Privatisations and M&As likely to continue in 2H for S-REITs, says RHB
RHB analyst Vijay Natarajan's top picks are CICT, CLAR, FCT, Keppel REIT and AIMS APAC REIT.
May 20, 2025
Broker's Calls
‘Value investors could look at MPACT, FEHT, Sasseur REIT and FLCT for alpha opportunities’, says DBS
The analysts at DBS prefer the retail, industrial, office and hotel S-REIT sub-sectors in this order.
April 22, 2025
Broker's Calls
Maybank lowers REITs’ earnings and DPU estimates, recommends investors remain ‘selective’ amid macro uncertainty
Analyst Krishna Guha has downgraded LREIT, OUE REIT, ESR REIT, AA REIT, CDLHT and FEHT to "hold", while tactically upgrading MPACT to "buy".
April 17, 2025
Broker's Calls
Maybank expects distributions for S-REITs to stabilise in 2H2025, growth from FY2026
Analyst Krisha Guha is “positive” on back of continued rate cuts, resilient growth and reasonable valuations. He names commercial, industrial and hospitality S-REITs as top stock picks.
January 20, 2025
Broker's Calls
Macquarie initiates coverage on 11 S-REITs after 'two false starts' for rate-cut rally
Analysts from Macquarie have named CapitaLand Ascendas REIT, Keppel DC REIT, Mapletree Logistics Trust (MLT) and Mapletree Pan Asia Commercial Trust as their top picks.
November 26, 2024
Broker's Calls
Citi downgrades CICT to ‘neutral’ with higher TP of $2.21
The downgrade comes as it sees limited DPU upside for ION Orchard and stretched valuations.
September 09, 2024
REITs Report 2024
OUE REIT ready for growth after emerging stronger from rate hike cycle
OUE REIT is in the plum position of owning nearly all Singapore-based assets, with just a single building in Shanghai.
September 05, 2024