Sias asks Accordia Golf Trust to address concerns over golf course divestment

Singapore

THE Securities Investors Association (Singapore), or Sias, has asked the management of Accordia Golf Trust (AGT) to address three key shareholder concerns over a planned divestment of its golf courses to its sponsor Accordia Golf.

In a letter to AGT's manager on Wednesday, Sias noted that the valuations of the golf courses have been badly hit by the pandemic. As at May 31, they were 5.4 billion yen (S$70.8 million) lower than their Dec 31, 2019 appraised value of 141.8 billion yen. That was before the Covid-19 outbreak.