Sabana REIT's NTP+ (Sabana REIT)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

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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.