Sabana Shari'ah REIT

[ghchua]

Hi steadyvalue,

I don't think it is fair to say that the trustee had made a "grave error" in this case. I mean, in the first place, isn't you the one who is saying that internalisation do not even need any trust deed amendment and even if amendments are needed, the trustee can actually use their discretion do away with EGM as long as they provide certifications? I had a few exchanges with you on this, and you can read back on this topic to see if I am misrepresenting you here.

So, now the court is saying is that related ESR entities cannot vote on proposed trust deed amendments. Did it say do away with trust deed amendments or the EGM? No.

Is the trustee wrong to seek advice on every step of the way? I don't think so. Yes, I agree that they could have do it faster to save on some costs but it is certainly a right decision to get the court involved in this. After all, this is the first time we are seeing internalisation for REITs here. The examples that you cited are Business Trusts, which I already highlighted to you the differences last time round.