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Investors concerned about DBS Trustee's decisions on EHT

Observers say typical trustees unlikely to be able to carry out all operational duties of Reit managers

Singapore

EAGLE Hospitality Trust (EHT) has effectively fallen under the "care" of DBS Trustee after its original manager was removed for multiple breaches of the Securities and Futures Act last year and plans to install a new manager did not succeed.

Since then, corporate entities under EHT - which is a stapled group comprising Eagle Hospitality Real Estate Investment Trust (EH-Reit) and the dormant Eagle Hospitality Business Trust - have filed for bankruptcy protection in the United States, and one hotel has been sold for US$18 million.

However, some unitholders of EHT are getting nervous about some of these moves.

A group of some 70 investors claiming to own more than 7 per cent of EHT are currently...

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