AA REIT sees ‘minimal financial impact’ from Yishun Industrial Park fire

The cause of the fire at 61 Yishun Industrial Park A is under investigation.

A fire broke out on one of AIMS APAC REIT (AA REIT) Singapore properties, 61 Yishun Industrial Park A, but this will have “minimal financial impact” on the major Singapore-based investment trust.

In a statement, AA REIT said the fire started at around 5:15 p.m. and was immediately put under control by the Singapore Defence Force around 6:30 p.m. 

No casualties were reported. Investigation is underway to determine the cause of the fire.

ALSO READ: AA REIT posts 5.1% YoY growth for DPU in FY 2023

Yishun Park A amounts to 0.9% of AA REIT’s portfolio and 1.2% of the firm’s revenue, as of 30 June 2023. The industrial park is also insured for physical damage and income losses for the next 36 months.

AA REIT closed $0.02 or 1.6% higher at $1.30 on Tuesday.