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Pushing for greater accountability of Reit managers in Singapore

Under the current regime, unitholders have limited or no rights to interfere with the management of the Reit.

Parliament in January 2017 passed the Securities and Futures (Amendment) Act 2017, which introduces statutory protections for unitholders against the failure of Reit managers and their directors to act in the best interests of unitholders.

WHILE Singapore is now the second largest Reit market in Asia, recent headlines have highlighted possible deficiencies of the Reit industry, including the accountability of Reit managers.

This issue has not gone unnoticed by the authorities. While the conduct of Reit managers is currently...

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