$Suntec Reit(T82U.SG)At the recent AGM, Suntec Reit says it has not had any cancellations or deferrment for conventions although new booking confirmations have been slower as organisers take a more cautious approach towards expenditure. Higher costs are expected due to global shipping routes and air freight capacity being affected by the Middle East conflict and delegates from overseas face higher airfares and hotel room rates.

However, there is also short term upside due to organisers looking to shift their events away from Dubai this year. Suntec Reit predicts the MICE part of its business which contributes 6.1 per cent of its total net property income to continue growing as Singapore is promoting MICE as part of its long term tourism strategy. It also saw positive rental reversion of 10% for Suntec City Mall and 9.6% for its office portfolio in Singapore for FY2025.