The Business Times
business-time-50

ESR sues Quarz over alleged defamation during Sabana internalisation bid

google-preferred-sourceAdd BT as a preferred source
Raphael Lim

Raphael Lim

Published Thu, Nov 30, 2023 · 07:02 PM
    • New Tech Park, at 151 Lorong Chuan, is an asset in Sabana Reit's portfolio. Earlier this year, ESR Group and Quarz were embroiled in a public battle over the internalisation of the Reit management function of Sabana Reit.
    • New Tech Park, at 151 Lorong Chuan, is an asset in Sabana Reit's portfolio. Earlier this year, ESR Group and Quarz were embroiled in a public battle over the internalisation of the Reit management function of Sabana Reit. PHOTO: BT FILE

    PROPERTY company ESR Group and activist investor Quarz Capital are facing off in court over alleged defamatory statements made during the latter’s push to internalise the management function of Sabana Industrial Real Estate Investment Trust (Sabana Reit).

    The case is currently ongoing before the Supreme Court, with the next case conference scheduled for Dec 5. The case was lodged by claimants E-Shang Infinity Cayman and ESR Group – which is the sponsor of Sabana Reit – on Jul 31.

    The defendants are Quarz Capital Asia (Singapore), Quarz Capital Management as well as three Quarz employees – head of research Havard Chi, chief investment officer Jan Moermann, and general manager Klaus Wille.

    DisputesQuarz CapitalSabana Reit

    TRENDING NOW

    The changes include more time for single-family offices to hire investment professionals, and less onerous monitoring of minimum AUM in designated investments.

    MAS eases family office tax rules, widens AML checks as Singapore vies for global wealth

    BYD’s rise to become the No 1 passenger-car seller in Singapore can be described as explosive. 

    How BYD disrupted Singapore’s car market – and why the strategy is turning on itself

    The Vietnamese economy has long relied heavily on bank lending, straining commercial banks as they shoulder the bulk of the financing needed by companies and large infrastructure projects.

    Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks

    SGX’s adjusted net profit jumped 25% year on year to S$759.5 million in FY2026.

    SGX’s record year masks Singapore’s equities challenge

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More