The Business Times
HOCK LOCK SIEW
·
SUBSCRIBERS

Regulators should clear path for unitholders of trusts to push for manager-internalisation

Ben Paul

Ben Paul

Published Thu, Dec 7, 2023 · 05:00 AM
    • A committee formed by Quarz Capital wants MAS and SGX RegCo to weigh in on whether ESR Group should be barred from voting on the extraordinary resolution to amend Sabana Reit's trust deed.
    • A committee formed by Quarz Capital wants MAS and SGX RegCo to weigh in on whether ESR Group should be barred from voting on the extraordinary resolution to amend Sabana Reit's trust deed. PHOTO: REUTERS

    WOULD Singapore’s real estate investment trust (Reit) and business trust sector be any more vibrant if these structures were internally managed rather than externally managed?

    We might be about to find out. On Nov 23, a group of investors claiming to own more than 10 per cent of Dasin Retail Trust (DRT) requisitioned an extraordinary general meeting (EGM) to remove its existing trustee-manager and create an internal trustee-manager.

    This came less than four months after unitholders of Sabana Industrial Trust (Sabana Reit) voted at an EGM on Aug 7 to remove its manager, and direct its trustee to set up an internal manager.

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More