Sabana Reit

The trustee notes that the new internalised manager has the sufficient data and full ability to assume immediate oversight

Revenue rises 5.3% year on year to S$29.9 million; net property income climbs 16% to S$16.9 million

Lack of size confronts Sabana Reit’s new internalised manager 

The Reit’s trustee also names two new directors to the board of the internal manager

Total income available for distribution grows 26.8% to S$21.1 million

The meeting is to be held by Sabana’s external manager to consider resolutions raised by activist investor Quarz Capital and four other unitholders of the Reit

They had called for the meeting as they believe ‘significant costs’ have been incurred from the manager internalisation

Revenue is up 4.6% on year at S$29.1 million, on the back of higher occupancy and rental reversions

Lin Duanliang failed to comply with examination orders, as well as other directions from the court, affidavit shows