More clarity needed on how Reit investors can review managers

THE Sabana Real Estate Investment Trust (Reit) episode shows that despite the existence of policy and legal infrastructure that allows for the removal and replacement of a Reit manager by minority unitholders, practically speaking, the task is still a steep and uphill one.

There is yet no precedent in Singapore's Reit history to show that it is possible.

To recap the episode, more than 60 unitholders had requisitioned an extraordinary general meeting (EGM) in April to oust the manager of the underperforming Reit.