interest coverage ratio (ICR)

MAS has streamlined financial reporting to include adjusted ICR of 1.5x and leverage of 50%, including impact of perps.

New MAS proposal on single boundary for ICR and aggregate leverage to benefit smaller overseas REITs, say analysts

For valuations, look beyond P/NAV to balance sheet liquidity to identify undervalued stocks

SINGAPORE (July 10): In an effort to allow Singapore REITs (S-REITs) to better optimise their capital structure, the Monetary Authority of Singapore (MAS) last week announced that it is considering increasing the current gearing limit to 45%.