DBS Trustee Limited has evaluated several proposals from potential rescuers of Eagle Hospitality Trust (EHT), and looks set to make an announcement on this soon.
EHT is a Singapore-listed, US-focused hospitality trust with a portfolio of 18 hotel properties across the country.
The trust has been suspended from trading on the Singapore Exchange (SGX) since March 2020, amid difficult operating conditions and issues over the trust’s management.
Most recently on 26 October, DBS Trustee Limited received an order from the Monetary Authority of Singapore (MAS) to remove EHT’s manager, citing breaches of the Securities and Futures Act.
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