Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT)

The removal of the Shari’ah compliance will be effective on or around Oct 21.

Units in Sabana REIT closed flat at 43.5 cents on April 22.

The total occupancy at NTP+ as at March 10 stands at 83.4%.

Unitholders can expect to receive their distribution on Feb 26.

Units in Sabana REIT closed 1 cent lower or 2.8% down at 34.5 cents on Dec 7.

“However, going into 2021, Covid-19 will continue to be a challenge,” says Donald Han, CEO of the manager.

In Singapore’s West-meets-East culture, people in positions of authority are rarely challenged so openly.

Under the Securities and Futures Act (SFA), boards of REIT managers must comprise at least 50% of independent directors where unitholders do not have the right to vote on the appointment of directors to the board.

The statement, dated August 28, says the board of directors of Sabana REIT’s manager went through a “thorough” process to evaluate the terms of the merger, and that the merger is the only formal offer that the manager has received.

While industrial REITs have fared better this year than other sectors in price performance and also in their DPU performances, ESR-REIT and Sabana Shariah Compliant Industrial REIT are trading below their NAV per unit.