You are here

Sabana unveils steps to soothe unitholders

CEO of trust manager quits; measures include one-time base fee cut, dropping of acquisition; Q1 DPU falls 24%
Wednesday, May 10, 2017 - 05:50

sabana.jpg
In a slew of announcements issued by Sabana Reit's manager on Tuesday described by the investors as "the right thing to do", it was announced that the embattled chief executive officer and executive director of the Reit manager, Kevin Xayaraj, has decided to quit "to pave a way for change" after serving the manager for seven years.

Singapore

RATTLED unitholders of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust who fought valiantly but lost their bid to unseat the Reit manager, should have been more dispirited to hear Tuesday's news that the Reit fared poorly - again - in the first quarter with

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom