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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