Boutique fund seeks answers from Accordia Golf Trust over move to retain profits
Singapore
THE decision by Accordia Golf Trust (AGT) to set aside 1.56 billion yen (S$20 million) as reserves in the March quarter has reduced AGT's latest semi-annual payout by almost half, and warrants a more detailed explanation, the largest minority unit-holder of Accordia Golf Trust (AGT) has argued in an open letter.
Hibiki Path Advisors, which owns 7.2 per cent of AGT, further observed that AGT's tendency to make announcements lacking in important details seems to have begun last May. That's six months before the trust sponsor announced a non-binding offer to acquire AGT's entire golf course portfolio.
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
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results