Sabana Reit’s manager appoints Elaine Lim as independent director

SABANA Industrial Real Estate Investment Trust’s (Sabana Reit) manager announced in a bourse filing on Wednesday (Jul 6) that it has appointed Elaine Lim as an independent non-executive director.

She will also be a member of the audit and risk committee and a member of the nominating and remuneration committee.

The Reit manager noted in a separate release that the nominating and remuneration committee had reached out to its business networks and independent organisations such as the Securities Investors Association (Singapore) (Sias) to source for and identify potential candidates over 2 months. It added that Lim’s appointment was supported by Sias.

She will remain an independent non-executive director of Combine Will International Holdings and an adviser to Lien Aid. 

This comes after Sabana Reit unitholders, led by activist fund manager Quarz Capital Management, voted against the appointment of independent non-executive director Chan Wai Kheong.

Units of Sabana Reit closed 1.1 per cent or S$0.005 lower at S$0.44 on Wednesday.