'I'm not the kingmaker,' says Sabana Reit director whom Quarz wants voted out
Singapore
SABANA Industrial Real Estate Investment Trust (Sabana Reit) is staring down the barrel of yet another crucial vote that could have a major impact on its plans going forward.
This comes 16 months after its proposed merger with ESR-Reit was voted down by unitholders in December 2020.
Instrumental in that defeat - the first time in the history of Singapore's real estate investment trust (Reit) market that a proposed merger had been voted down - was activist fund manager Quarz Capital Management.
Quarz is now rallying unitholders to reject 3 of the 5 resolutions that Sabana Reit has tabled for its annual general meeting (AGM) on Apr 26.
At the centre of the storm is hedge fund founder and former Credit Suisse trader Chan Wai Kheong, who was appointed as an independent …
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