Accordia Golf Trust Management, the trustee manager of Accordia Golf Trust (AG Trust), said on Wednesday that AG Trust has been added to the Morgan Stanley Capital International (MSCI) Singapore Small Cap Index.
It joins three other companies - offshore support vessel provider PACC Offshore Services Holdings, Indonesian food producer Japfa, and hotel and serviced residence group Frasers Hospitality Trust - in replacing Keppel Infrastructure Trust, Stamford Land Corporation, Suntec Reit and Swiber Holdings in the MSCI Singapore Small Cap Index.
The MSCI Singapore Small Cap Index is designed to measure the performance of the small cap segment of the Singapore market. With 85 constituents, the index represents approximately 14 per cent of the free float-adjusted market capitalisation of the Singapore bourse.
AG Trust is the first business trust comprising investments in golf course assets in Japan listed on the Singapore Exchange.
Its initial portfolio comprises 89 golf courses located across Japan. About 86.4 per cent of the initial portfolio golf courses are located in the three largest metropolitan areas in Japan, namely the Greater Tokyo Region, the Greater Nagoya Region and the Greater Osaka Region.
Said Mr. Yoshihiko Machida, Chief Executive Officer and Executive Director of the TrusteeManager: "This underpins our efforts to enhance AG Trust's corporate profile and increase investors' familiarity and appreciation of the Japan golf market."
"Moving forward, we will continue to deploy our growth strategies with a view towards ensuring the stable and increasing flow of returns for all our unitholders."
Separately, Suntec Reit will join the MSCI Singapore Index (SiMSCI), replacing commodity play Olam International, also from Wednesday.