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Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: Undefined offset: 0 in tes_menu_link__menu_sidebar() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/template.php).
Notice: session_start(): A session had already been started - ignoring in include() (line 2 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/partials/modal_desktop.tpl.php).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'und' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Trying to get property 'value' of non-object in get_user_profile() (line 1428 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_checkout/tes_checkout.module).
Notice: Undefined offset: 2 in include() (line 70 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/page.tpl.php).
Notice: Undefined offset: 3 in include() (line 71 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/page.tpl.php).
Notice: Undefined index: und in include() (line 39 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Notice: Undefined index: und in include() (line 124 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Warning: count(): Parameter must be an array or an object that implements Countable in include() (line 124 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Notice: Trying to get property 'name' of non-object in include() (line 166 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Notice: Undefined index: und in include() (line 186 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Notice: Undefined variable: fontResizer in include() (line 198 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Notice: Undefined index: SERVER_NAME in include() (line 1056 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Notice: Undefined index: SERVER_NAME in include() (line 1130 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/ds-1col--node-article-full.tpl.php).
Warning: Use of undefined constant REQUEST_URI - assumed 'REQUEST_URI' (this will throw an Error in a future version of PHP) in include() (line 46 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/html.tpl.php).
Notice: Undefined index: und in include() (line 71 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/html.tpl.php).
Notice: Undefined offset: 2 in include() (line 109 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/html.tpl.php).
Notice: Undefined offset: 3 in include() (line 110 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/html.tpl.php).
Notice: Undefined offset: 0 in getContentMeta() (line 479 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/html.tpl.php).
Notice: Undefined offset: 1 in getContentMeta() (line 480 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/html.tpl.php).
Warning: preg_replace(): No ending delimiter '"' found in getContentMeta() (line 481 of /home/testing/The_Edge_Singapore_Website/sites/all/themes/tes/templates/html.tpl.php).
Notice: session_start(): A session had already been started - ignoring in drupal_session_start() (line 287 of /home/testing/The_Edge_Singapore_Website/includes/session.inc).
User warning: The following module is missing from the file system: native_ad_mobile_app. For information about how to fix this, see the documentation page. in _drupal_trigger_error_with_delayed_logging() (line 1143 of /home/testing/The_Edge_Singapore_Website/includes/bootstrap.inc).
User warning: The following module is missing from the file system: tes_new_module. For information about how to fix this, see the documentation page. in _drupal_trigger_error_with_delayed_logging() (line 1143 of /home/testing/The_Edge_Singapore_Website/includes/bootstrap.inc).
Notice: Constant EVENT_INSERT already defined in require_once() (line 4 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/in_app_subscription/repositories/apple_subscription.repository.php).
Notice: Constant EVENT_UPDATE already defined in require_once() (line 5 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/in_app_subscription/repositories/apple_subscription.repository.php).
Notice: Constant REDIS_TTL_TAXONOMY already defined in include_once() (line 38 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_v2/tes_api_v2.module).
Notice: Constant EVENT_INSERT already defined in require_once() (line 4 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_gpt_summarize/repositories/tes_gpt_summarize.repository.php).
Notice: Constant EVENT_UPDATE already defined in require_once() (line 5 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_gpt_summarize/repositories/tes_gpt_summarize.repository.php).
Notice: session_start(): A session had already been started - ignoring in include_once() (line 2 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_simultaneous_login/tes_simultaneous_login.module).
Notice: Undefined index: issue_id in allow_view_pdf() (line 100 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_pdf_viewer/tes_pdf_viewer.module).
Notice: Trying to get property 'field_free_to_view_pdf' of non-object in allow_view_pdf() (line 101 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_pdf_viewer/tes_pdf_viewer.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
Notice: Undefined index: Secret-Mobile-App-Key in mobile_app_api_middleware() (line 127 of /home/testing/The_Edge_Singapore_Website/sites/all/modules/custom/tes_api_mobile_app/tes_api_mobile_app.module).
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How will higher interest rates affect REITs?

In print this week

How will higher interest rates affect REITs?

Goola Warden Published on Wed, Jul 11, 2018 / 12:13 AM GMT+8

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SINGAPORE (July 9): Real estate investment trusts as measured by the FTSE ST Real Estate Investment Trust Index have fallen by 6.6% since the start of the year despite a rise in the yield of 10-year Singapore Government Securities — from 2% at the start of the year to around 2.5% currently. A strengthening US dollar is likely to exert upward pressure on the Singapore Interbank Offered Rate (Sibor) and the Swap Offer Rate (SOR) and these will continue to have an indirect effect on the 10-year SGS yield, which some market observers expect to rise towards the 2.8% to 2.9% range.

Unit prices of REITs are based on a yield spread, which is the difference between their historic and forward yields versus the risk-free rate. With risk-free rates rising, some focus has fallen on the outlook for REITs given their interest-rate sensitivities.

“If you look at a 15-year average [yield spread], it is typically 3.7% to 3.8%. Just on the basis of the average spread versus current spread of 3.6% to 3.7%, it’s not a good time to bottom-fish across the sector. On the other hand, REITs are also not going to see a significant selloff given the flattening yield curve,” says Brandon Lee, an analyst at JPMorgan (see Charts 1 and 2).

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How will higher interest rates affect REITs?

In print this week

How will higher interest rates affect REITs?

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How will higher interest rates affect REITs?

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How will higher interest rates affect REITs?

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