. Good point. Sgd vs hkd has been dropped a lot and general view is not that bullish on sgd. So fx risk has to be considered. In fact, what we need to care is the underlying asset as lot of the reit listed in sg hold non-SG property. I think it is better to avoid reit holding SG office project as the sgd vs usd is hard to climb and huge supply of office in sg is coming like something in cbd or new cbd area. In short, check the underlying of the reit but not just the yield is suggested.