Indiabulls trust clarifies issues raised in BT column
Trustee-manager says India's market conditions hit by global financial crisis after listing of business trust
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INDIABULLS Property Management Trustee Pte Ltd (IPMT), the trustee-manager of Indiabulls Properties Investment Trust (IPIT), has said market conditions beyond its control are primary drivers of the decline in IPIT's net asset value (NAV).
The trustee-manager made this point in a clarification filed late on Tuesday with the Singapore Exchange (SGX) in response to a Hock Lock Siew column in The Business Times ("What went wrong with Indiabulls Property Investment Trust?", Aug 15).
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