Sabana Reit minority shareholders await MAS, SGX guidance on ESR-Reit merger

Singapore

QUARZ Capital Management said on Wednesday that it, together with other minority shareholders, looks forward to receiving guidance and support from the Monetary Authority of Singapore (MAS) and the Singapore Exchange Regulation (SGX Regco) on the proposed merger between Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) and ESR-Reit.

"We thank MAS and SGX RegCo for their prompt and clear statement in support of unitholders' best interest and corporate governance," said Quarz in a statement to The Business Times. "We, Black Crane and hundreds of unitholders who have signed up on our website and have voiced their concerns on the potential conflict of interest and fear for their savings and investments are looking forward to receiving guidance and support from MAS and SGX RegCo in this important matter."