MAS orders removal of EH-Reit manager after submissions raise 'no new material facts'

Singapore

THE Monetary Authority of Singapore (MAS) on Monday ordered the removal of the manager of Eagle Hospitality Reit (EH-Reit). MAS has also directed DBS Trustee, in its capacity as trustee of EH-Reit, to appoint a new manager "as soon as practicable".

EH-Reit is part of the hospitality stapled group Eagle Hospitality Trust (EHT). EHT also consists of Eagle Hospitality Business Trust, which is presently dormant.