Failure to remove Sabana Reit manager is a negative outcome

I AM disappointed with the Sabana EGM last Friday, which rejected the resolutions to remove the manager.

BT's Hock Lock Siew on April 25 named Sabana Reit the worst performer and the only Reit with negative returns. The Sabana Reit manager blamed the performance on the slow economy.

There are 37 reits in Singapore; all the other 36 produced positive returns, so the slow economy could not be the reason. It could only be highly incompetent management or unfair conduct that led to such disastrous performance.