Strategic Review Updates

Strategic Review

In November 2022, the Manager of Manulife US REIT (MUST) announced that it has formed a Strategic Working Group comprising senior members of the Manager and the Board to undertake a review of a variety of options available to MUST to enhance unitholder value. Scroll to find out more about all the latest developments and resources related to the strategic review. You may also subscribe to email alerts for our latest announcements here.

Announcements

Date	Title
14 Aug 2023	Financial Statements And Related Announcements – Half Yearly Results
18 Jul 2023	Decline In Valuations Resulting In Breach Of Financial Covenants And Impact On Distributions
24 May 2023	Update on Strategic Review
11 May 2023	1Q 2023 Operational Updates
5 May 2023	Minutes Of Annual General Meeting Held On 20 April 2023
20 Apr 2023	Annual General Meeting Presentation
14 Apr 2023	Annual General Meeting On 20 April 2023 -Responses To Substantial Responses To Substantial And Relevant Questions From Unitholders
12 Apr 2023	Response To SGX Queries Dated 11 April 2023
12 Apr 2023	Update On Strategic Review
12 Apr 2023	Divestment Of Property Known As Tanasbourne Located In Hillsboro, Oregon
27 Mar 2023	Clarification Announcement
17 Mar 2023	Response to Business Times Article
15 Mar 2023	Response To Media Reports
25 Nov 2022	Appointment of Financial Advisor For Strategic Review

Analyst Reports

Date	Company	Title
16 Aug 2023	UOB Kay Hian	1H23: Unit Price Near Capitulation; Upgrade to BUY
15 Aug 2023	CSC-CIMB Research	Focus on improving liquidity position
19 July 2023	UOB Kay Hian	Attempting To Address Slight Breach Of Financial Covenant
19 July 2023	RHB Securities	In Urgent Need Of Active Sponsor Support
19 July 2023	DBS	A case of too little, too late
19 July 2023	CSG-CIMB Research	Asset devaluation, focus on financial metrics
31 May 2023	RHB Securities	On The Road to Redemption; BUY
24 May 2023	DBS	Proposed Sponsor's acquisition of Phipps to move the gearing needle down
18 May 2023	DBS	Raising capital the right move for all
11 May 2023	CSG-CIMB Research	Continuing to navigate challenges
13 Apr 2023	RHB Securities	Making a Course Correction
12 Apr 2023	DBS	News Analysis: Going forward with strategic review
27 Mar 2023	DBS	US Office SREITs: Rewards for the brave
28 Mar 2023	DBS	US Office SREITs: Shaken, not stirred
16 Mar 2023	RHB Securities	Decoding The Potential Bid; BUY
10 Feb 2023	DBS	Don’t make me wait for love
10 Feb 2023	RHB Securities	Taking the Right Measures; Star BUY
9 Feb 2023	CSG-CIMB Research	Focus on improving financial flexibility
8 Feb 2023	DBS	Someday, my knight will come
3 Nov 2022	CSG-CIMB Research	Outlook challenging, but likely priced in

Media Reports

Date	Media	Title
17 Aug 2023	The Edge	‘Absolutely’ possible to save Manulife US REIT, says sponsor but time not on its side
17 Aug 2023	The Edge	Manulife US REIT halts distributions as manager mulls options
16 Aug 2023	REITSWeek	Manulife US REIT highlights major complexity on road to resume distributions
20 July 2023	The Edge	Sponsor pressed to step up support after Manulife US REIT breaches aggregate leverage ceiling
18 July 2023	Forever Financial Freedom	Thoughts on Manulife Reits (MUST) - Decline in Valuations Resulting in Breach of Financial Covenants
25 May 2023	The Edge	Phipps sale expected to sponsor set to cut Manulife US REIT's leverage as Miraes exclusivity period lapses
24 May 2023	Mingtiandi	Manulife US REIT Proposes Fresh Asset Sale as Debt Limit Looms, Mirae Talks Lapse
24 May 2023	The Straits Times	Manulife US Reit to sell Phipps Tower to sponsor; exclusivity period with Mirae lapses
12 Apr 2023	Investment Income For Life	Manulife US REIT Clarifies That Sponsor Will Retain Its Shareholding And Divestment Of Office Building to Sponsor
12 Apr 2023	Mingitiandi	Manulife US REIT Sells Oregon Office Park for $33.5M
3 Apr 2023	The Smart Investor	Share Prices of These 4 Singapore REITs Are Hitting a Year-Low: Can They Recover?
31 Mar 2023	The Edge	'Rewards for the brave' who dare to bet on US office S-REITs now: DBS
28 Mar 2023	REITsWeek	Manulife US REIT issues statement on loans after unit price nosedives
15 Mar 2023	The Edge	Manulife US REIT's manager confirms it is in discussions with Mirae Asset
15 Mar 2023	REITsWeek	South Korean investor in talks to acquire stake in Manulife US REIT's manager
29 Nov 2022	CoStar News	Manulife US REIT Reviewing Options for 5.5 Million-Square-Foot US Office Portfolio
25 Nov 2022	Mingtiandi	Manulife US REIT names Citi Unit as Advisor for Strategic Review
25 Nov 2022	REITsWeek	Manulife US REIT appoints Citigroup Global Markets for strategic review
25 Nov 2022	Singapore Business Review	Manulife US REIT financial advisor for strategic review named