Allowing unitholders more say over Reit managers would raise accountability

IT may be time to review rules governing Singapore-listed real estate investment trusts (Reits), to allow unitholders more say in the appointment of Reit directors and managers.

The recent declaration by activist fund managers Quarz Capital and Black Crane that they will not endorse the proposed appointments of two new independent directors at Sabana Shari'ah Compliant Reit (Sabana Reit) is a reminder of the challenges minority unitholders face when they are unhappy with a Reit's performance.

It is, in fact, already something that unitholders will be given the option to endorse the appointments at Sabana Reit's …

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