Here are the responses our questions drew at Sabana REIT’s EGM

SINGAPORE (May 5): Just before the extraordinary general meeting of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust, The Edge Singapore suggested six questions unitholders should ask the manager. Jerry Low Chin Yee, the de facto leader of the unitholders who requisitioned the EGM, passed the questions to Stephen Lim, the chairman of Sabana REIT’s manager, who had been appointed by HSBC Trustees to chair the EGM. Lim read out the questions during the EGM.

See also: Six questions to ask at Sabana REIT’s EGM today

The third question, which was about the valuation of 47 Changi South Ave 2, a property that Sabana REIT has proposed to acquire from its sponsor Vibrant Group, drew a raucous response from the assembled unitholders, with a number of them offering their own observations and related questions. In particular, Charlie Chan, a former investment banker and investor in a number of locally listed REITs, challenged the manner in which Sabana REITs properties had been valued.

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