Shareholders raise storm over valuation of Sabana acquisition

Singapore

THE new-found activism of Sabana Syariah-compliant Reit's unitholders who are fed up with the trust manager's underperformance has morphed into a drama never before witnessed in Singapore's otherwise staid Reit space.

One of the "disgusted" and "angry" unitholders Jerry Low, a retired stockbroker who has been invested in the trust since last year, has lodged a complaint with Singapore's white-collar crime buster against three big property valuers - Colliers, Savills and Knight Frank - in relation to their independent valuation of a property to be acquired by Sabana Reit from its sponsor Vibrant Group.