Sabana Reit manager ropes in Morgan Stanley for strategic review
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THE manager of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) said on Friday that it has appointed Morgan Stanley Asia (Singapore) as its financial adviser for a strategic review.
The Reit manager is undertaking the strategic review to enhance unitholder value, after its unitholders - complaining of falling distribution per unit, overpriced acquisitions backed by sale and leaseback arrangements, and handsome fee payouts to the Reit manager - sought to throw it out.
The committee will review various options to improve the Reit's performance, including sourcing and considering the proposals from potential strategic partners who can enhance the Reit's performance.
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