Sabana Reit’s manager should state if it will work with the trustee on internalisation plan
THE trustee of Sabana Industrial Real Estate Investment Trust (Sabana Reit) indicated last week that it “will expect” the current manager of the Reit to serve as interim manager in the event unitholders vote for a controversial internalisation proposal.
This could assuage concerns among some unitholders that the internalisation plan will leave Sabana Reit without a manager for a lengthy period of time, and potentially in breach of its loan covenants.
More to the point, Sabana Reit’s manager may now be in the awkward position of having to publicly state whether it plans to live up to the expectations of the trustee.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Opinion & Features
Big win for Labour and deal on Europe could produce UK rebound
Will AI ever live up to its hype?
Vibrancy of Singapore Exchange should be everyone’s concern
From Lego to McKinsey, distracted managing can kill companies
South Korea summit comes at key moment in global AI debate
Stock market needs shot in the arm, but not via CPF investments