Sabana Shari'ah REIT

[weijian]

Honestly a REIT is not about internal or external manager running the operations. The structure, including the trustees are important too. You also do realise that ESR is also the biggest shareholder of the REIT right, and that directors are not there to manage the REIT or Company?

Indeed, a REIT is not about internal or external manager running the operations. What really matters to the REIT owners is whether the manager creates value for everyone and has/behave with no conflict of interest. It is now up to the shareholders to decide - fair and square and probably that is how it should work? Imagine someone trying to call off elections, rather allow the elections to be held to decide the results. If this happens to the political scene, what goes?

ESR is the biggest shareholder of the REIT, no questions there too. But been the biggest shareholder doesn't mean it is/has to be aligned to other shareholders (mainly the OPMIs). Extracting value can come in many ways and if everyone is not extracting value in the same way, or someone is deemed as taking unproportionally more, then the result is simply what has transpired.