Sabana Reit
Sabana Reit completes internal management transition, renamed as Alpha Integrated Reit
The trustee notes that the new internalised manager has the sufficient data and full ability to assume immediate oversight
Sabana Reit’s Q3 income available for DPU up 38.4% at S$0.0101 on higher occupancy at New Tech Park
Revenue rises 5.3% year on year to S$29.9 million; net property income climbs 16% to S$16.9 million
The internal management model’s uphill task in gaining traction among Singapore Reits
Lack of size confronts Sabana Reit’s new internalised manager
Former ALog Trust chief Karen Lee to lead Sabana Reit’s internal manager
The Reit’s trustee also names two new directors to the board of the internal manager
Sabana Reit’s H1 DPU rises 26.9% to S$0.017 on higher overall occupancy, sustained positive rental reversions
Total income available for distribution grows 26.8% to S$21.1 million
ESR attempts to suspend Sabana Reit’s May 24 EGM
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
Sabana Reit unitholders vote against resolution to initiate price discovery process at EGM
They had called for the meeting as they believe ‘significant costs’ have been incurred from the manager internalisation
Sabana Reit reports 26.5% higher Q1 DPU at S$0.0086 on 22% higher NPI
Revenue is up 4.6% on year at S$29.1 million, on the back of higher occupancy and rental reversions
Former director of Sabana Reit’s ex-tenant jailed for contempt of court in ongoing tussle over unpaid rent
Lin Duanliang failed to comply with examination orders, as well as other directions from the court, affidavit shows
Sabana Reit unitholders shouldn’t push for asset sales before internalisation project is completed
Such action would have been more appropriate when Sabana Reit tried to merge with ESR Reit in 2020, or when it first started the perilous ‘internalisation’ journey in 2023
