Sabana REIT's NTP+ (Sabana REIT)

Sabana REIT unitholders have voted against the endorsement of Chan Wai Kheong as a director in the REIT’s board.

77% of votes registered at the REIT’s annual general meeting (AGM) on 26 April were against the appointment.

Quarz Capital, an institutional investor who was leading a dissent against Chan’s appointment, had long pointed to potential conflicts of interest given his substantial stake in AIMS APAC REIT.

Related: Candidate in tussle for seat on Sabana REIT’s board tried to sway decision multiple times, says Quarz Capital


Dear members, please login to continue reading this article.

Don’t miss out on information beyond mainstream media reports that may impact your investments.
Login or sign-up for a free 25-day trial here. Why subscribe?

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.