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    Real estate investment trusts
Alpha Integrated Real Estate Investment Trust

Alpha Integrated Real Estate Investment Trust

0.48
SGD
+0.01
(+2.15%)
368.58MMarket Cap
Jan 21Next Earn
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
0.11
- -
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
0.06
- -
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
0.05
- -
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
0.02
Book Value per Share
0.96
0.93
0.78
0.75
0.54
0.57
0.57
0.51
0.52
0.53
0.52
0.5
0.53
0.51
Tangible Book Value per Share
0.95
0.93
0.78
0.75
0.54
0.57
0.57
0.51
0.52
0.53
0.52
0.5
0.53
0.51
Basic Weighted Avg Shares
753
797
725
736
1,032
1,053
1,053
1,053
1,058
1,084
1,104
1,122
1,125
1,053
Sales/Revenue/Turnover
89
100
101
92
85
81
76
72
82
95
112
113
120
- -
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
- -
Depreciation Expense
1
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
63
37
-73
-62
-27
68
21
-42
49
53
18
11
64
- -
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
- -
Working Capital
-129
-93
-87
-113
-112
-67
-56
-156
9
-8
-105
2
-69
-128
LT Debt
317
380
334
308
248
189
292
198
387
364
285
416
347
225
Total Equity
757
773
654
557
572
604
595
540
556
586
577
565
593
539
Return on Invested Capital (%)
4.37
5.18
- -
- -
- -
4.93
4.77
- -
5.02
4.98
4.49
4.34
5.93
- -
Return on Capital (%)
6.83
4.4
- -
- -
- -
8.56
3.67
- -
6.68
7.05
3.96
3.21
8.07
- -
Return on Common Equity (%)
8.69
4.83
-10.3
-10.32
-4.75
11.51
3.44
-7.44
8.91
9.24
3.11
1.99
11.05
- -

Capital Structure

SGD

•

in mil. unless spec.
Sep'19
Dec'19
Jun'20
ST Debt
177
63
137
LT Borrowings
100
219
152
LT Finance Leases
74
73
73
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,053
1,053
1,053
Market Capitalization
479
484
369

Working Capital

SGD

•

in mil. unless spec.
Sep'19
Dec'19
Jun'20
Total Current Assets
23
22
25
Cash, Cash Equivalents & STI
4
4
8
Accounts Receivable, Net
3
- -
4
Inventories
- -
- -
- -
Total Current Liabilities
189
78
152
Payables & Accruals
- -
- -
- -
ST Debt
177
63
137
Deferred Revenue
- -
- -
- -

Growth Rates

SGD

•

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%

Semi-annual Revenue

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
113
2025
- -
31
120
2026
- -
- -
- -

Semi-annual Earnings Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.01
2025
- -
0.04
0.06
2026
- -
- -
- -

Semi-annual Dividends Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.02
2025
- -
- -
0.03
2026
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Kiah Ling Lee
Full Time Employees
10
Sector
Finance
Industry
Real estate investment trusts
Address
151 Lorong Chuan Singapore CE Singapore 556741
IPO Date
Nov 26, 2010
Website
ai-reit.com
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Business
Alpha Integrated Real Estate Investment Trust (AI-REIT, SGX: M1GU), formerly Sabana Industrial REIT, operates as a Singapore-listed real estate investment trust that invests primarily in income-producing industrial properties in Singapore; its diversified portfolio comprises 18 properties with a total gross floor area of approximately 4.2 million square feet across high-tech industrial, warehouse and logistics, chemical warehouse and logistics, and general industrial sectors, including medium-rise high-tech buildings along central fringes, facilities near Jurong Island for chemical logistics, spaces equipped with loading docks for general warehousing, and multi-purpose industrial buildings; the trust generates revenue mainly from tenant leases in these segments, with total assets exceeding S$1.0 billion as of late 2023 and a market capitalization around US$405 million. Headquartered at 151 Lorong Chuan #02-03, New Tech Park, Singapore, AI-REIT was constituted on 29 October 2010 and listed on the Singapore Exchange on 26 November 2010; it targets institutional and retail investors seeking exposure to Singapore's industrial real estate market and is a constituent of the SGX SREIT Index and MSCI Singapore Micro Cap Index. In a major strategic shift completed on 23 October 2025, AI-REIT finalized the internalization of its management by appointing Alpha Integrated REIT Management Pte. Ltd. (AIRM) as its new internal manager, replacing the external Sabana Real Estate Investment Management Pte. Ltd. following unitholder approval in 2023 and resolution of related disputes; this pioneering move makes it the first Singapore REIT with an internal management model, enhancing transparency and accountability; AIRM subsequently appointed experienced executives including CEO Karen Lee Kiah Ling (over 20 years in industrial real estate, formerly at Ascendas and ESR), CFO Goo Li Ling (ex-Suntec REIT and Lendlease), and CIO Wayne Tan (from ESR and LOGOS); the trust deed was amended to reflect the new structure, lender waivers were secured, and the REIT was officially renamed Alpha Integrated Real Estate Investment Trust, with the ticker unchanged.