Sabana-ESR merger: MAS says safeguards in place against conflicts of interest

Singapore

THE Monetary Authority of Singapore (MAS) on Friday clarified that its regulatory framework does not prohibit a shareholder group from owning substantial stakes in two real estate investment trust (Reit) managers managing Reits invested in the same property class.

This was in response to queries about the proposed merger of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) and ESR-Reit, whose managers have the same sponsor, ESR Cayman.