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Indiabulls trust clarifies issues raised in BT column

Trustee-manager says India's market conditions hit by global financial crisis after listing of business trust

Published Wed, Aug 17, 2016 · 09:50 PM

Singapore

INDIABULLS Property Management Trustee Pte Ltd (IPMT), the trustee-manager of Indiabulls Properties Investment Trust (IPIT), has said market conditions beyond its control are primary drivers of the decline in IPIT's net asset value (NAV).

The trustee-manager made this point in a clarification filed late on Tuesday with the Singapore Exchange (SGX) in response to a Hock Lock Siew column in The Business Times ("What went wrong with Indiabulls Property Investment Trust?", Aug 15).

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