Reits must address issues related to independent directors, overseas assets: SGX RegCo
Singapore
SINGAPORE-LISTED real estate investment trusts (Reits) should address issues related to the independence of their directors and the valuations of their overseas assets, said Singapore Exchange Regulation (SGX RegCo). The market regulator said it is also working on ways to address concentration risks and the difficulty of enforcing rules on overseas entities.
In a webinar organised by the Reit Association of Singapore (Reitas) for IDs, SGX RegCo's CEO Tan Boon Gin said Reits must do all they can to boost investors' confidence in the independence of directors. This might include allowing unitholders to vote on the election of IDs, which some Reits already do.
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