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    REIT - Industrial
Alpha Integrated Real Estate Investment Trust

Alpha Integrated Real Estate Investment Trust

SBBSF
Alpha Integrated Real Estate Investment TrustUS flagOther OTC
0.34
USD
- -
- -
380.27MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.12
0.13
0.14
0.12
0.08
0.08
0.07
0.07
0.08
0.09
0.1
0.1
- -
0.07
Basic EPS, GAAP
0.08
0.05
-0.1
-0.08
-0.03
0.06
0.02
-0.04
0.05
0.05
0.02
0.01
- -
0.02
Free Cash Flow per Basic Share
0.1
0.09
0.1
0.07
0.05
0.04
0.04
0.04
0.05
0.04
0.04
0.02
- -
0.04
Dividend per Share
0.08
0.06
0.07
0.05
0.03
0.03
0.03
0.01
0.03
0.02
0.02
0.02
- -
0.03
Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Tangible Book Value per Share
1
0.97
0.9
0.76
0.55
0.57
0.57
0.51
0.53
0.54
0.52
0.5
- -
0.57
Basic Weighted Avg Shares
753
797
725
736
1,032
1,053
1,053
1,053
1,058
1,084
1,104
1,122
- -
1,053
Sales/Revenue/Turnover
89
100
101
92
85
81
76
72
82
95
112
113
120
76
Operating Margin (%)
79.52
63.43
62.63
54.57
53.65
57.97
59.89
50.88
56.48
49.68
39.66
39.32
49.4
59.89
Depreciation Expense
1
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
63
37
-73
-62
-27
68
21
-42
49
53
18
11
64
21
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
2.98
4.88
0.01
- -
Profit Margin (%)
70.84
36.78
-72.84
-68.04
-31.47
83.6
27.06
-58.87
59.6
55.6
16.15
10.04
53.28
27.06
Working Capital
-129
-93
-87
-113
-112
-67
-56
-156
9
-8
-105
2
-69
-56
LT Debt
317
380
334
308
248
189
292
198
387
364
285
416
347
292
Total Equity
757
773
654
557
572
604
595
540
556
586
577
565
593
595
Return on Invested Capital (%)
6.11
5.18
- -
- -
- -
4.93
4.77
- -
5.02
4.98
4.49
4.34
5.93
4.77
Return on Capital (%)
18.32
11.67
- -
- -
- -
22.4
9.82
- -
16.44
17.72
10.05
7.69
19.07
9.82
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
ST Debt
177
177
63
LT Borrowings
99
100
219
LT Finance Leases
73
74
73
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,053
1,053
1,053
Market Capitalization
340
335
370

Working Capital

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
Total Current Assets
23
23
22
Cash, Cash Equivalents & STI
4
4
4
Accounts Receivable, Net
2
3
- -
Inventories
- -
- -
- -
Total Current Liabilities
188
189
78
Payables & Accruals
- -
- -
- -
ST Debt
177
177
63
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.76%
1.94%
4.91%
Free Cash Flow
4.91%
19.4%
122.28%
Net Income, GAAP
-64.61%
30.44%
462.62%
Sales/Revenue/Turnover
2.23%
11.05%
5.97%
Total Cash Common Dividend
7.72%
36.15%
57.45%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
112
2024
- -
- -
- -
- -
113
2025
- -
31
- -
- -
120

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.02
2024
- -
- -
- -
- -
0.01
2025
- -
0.04
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.02
2024
- -
- -
- -
- -
0.02
2025
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Kiah Ling Lee
Full Time Employees
29
Sector
Real Estate
Industry
REIT - Industrial
Address
151 Lorong Chuan Singapore Singapore 556741
IPO Date
Jul 30, 2012
Website
ai-reit.com
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Business
Alpha Integrated Real Estate Investment Trust (AI-REIT) is a Singapore-listed real estate investment trust that invests in high-quality, income-producing industrial properties primarily in Singapore. Founded in 2010 and listed on the Singapore Exchange Securities Trading Limited on 26 November 2010, AI-REIT holds interests in a diversified portfolio of 18 properties with a total gross floor area of approximately 4.2 million square feet as at 30 September 2025, spanning high-tech industrial, warehouse and logistics, chemical warehouse and logistics, and general industrial sectors; its flagship asset includes New Tech Park at 151 Lorong Chuan. The trust operates exclusively in Singapore, targeting tenants in industrial and logistics sectors, with total assets exceeding S$1.0 billion and inclusion as a constituent of the MSCI Singapore Micro Cap Index. AI-REIT is managed internally by Alpha Integrated REIT Management Pte. Ltd., a wholly-owned subsidiary of the REIT, making it the first REIT in Singapore to adopt an internal management model that emphasizes transparency, accountability, and long-term value creation; the manager is headquartered at 105 Cecil Street, #10-01, The Octagon, Singapore 069534. Formerly known as Sabana Industrial Real Estate Investment Trust (or Sabana Industrial REIT), AI-REIT completed a significant strategic shift to internalisation of its management in 2025, securing necessary waivers from participating lenders affirming confidence in its direction and financial stability, while Ernst & Young LLP confirmed the inapplicability of a prior going concern emphasis of matter note in the 3Q 2025 financial statements following the change of manager and constructive refinancing discussions for March 2026. In October 2025, the trust changed its name to Alpha Integrated REIT and its bond name to AI-REITS$100M4.15%B290625, alongside reporting strong 3Q 2025 results with 38.4% year-on-year growth in income available for distribution per unit to 1.01 cents and New Tech Park occupancy reaching a 12-year high of 94.7%; management is actively reviewing options for a planned 200,000 square feet redevelopment of New Tech Park to optimize asset use and enhance portfolio quality.