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Sabana Reit better off if major unitholders not represented on board of new internal manager

Would-be directors should commit to purchasing S$1 million worth of units in the market to align interest with unitholders

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Ben Paul

Ben Paul

Published Mon, Oct 14, 2024 · 05:00 AM
    • With the potential cachet that could come with being the first internally managed Reit in the local market, at a time when global interest rates are easing, Sabana Reit could draw a wider investor following.
    • With the potential cachet that could come with being the first internally managed Reit in the local market, at a time when global interest rates are easing, Sabana Reit could draw a wider investor following. PHOTO: BT FILE

    UNITHOLDERS of Sabana Industrial Real Estate Investment Trust (Sabana Reit) are to vote at yet another extraordinary general meeting (EGM) on Friday (Oct 18).

    This time, the matter at hand is the appointment of directors to the board of the internalised manager of the Reit – subject to the requisite approvals from the Monetary Authority of Singapore being obtained.

    The requisitionists of the EGM, led by Quarz Capital, have proposed six names.

    Sabana ReitAGM/EGMS-ReitsSingapore REITs

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