Shareholders raise storm over valuation of Sabana acquisition
Singapore
THE new-found activism of Sabana Syariah-compliant Reit's unitholders who are fed up with the trust manager's underperformance has morphed into a drama never before witnessed in Singapore's otherwise staid Reit space.
One of the "disgusted" and "angry" unitholders Jerry Low, a retired stockbroker who has been invested in the trust since last year, has lodged a complaint with Singapore's white-collar crime buster against three big property valuers - Colliers, Savills and Knight Frank - in relation to their independent valuation of a property to be acquired by Sabana Reit from its sponsor Vibrant Group.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
No extension to 6-month pause on DBS’ non-essential activities, but 1.8 times multiplier stays
CSE Global records S$186.2 million in Q1 new orders, up 16.7%
HSBC CEO to retire; bank reports 1.7% lower Q1 profit of US$10.8 billion
Huawei profit surges 564% as it eclipses Apple in China
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Boosted by name brand beers, Carlsberg sees higher sales