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luckyplate Member	03-Aug-2023 11:19        luckyplate About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dividend easily hit 10 % once we have the internal ...thing settle?  .. sealTeam3      ( Date: 03-Aug-2023 10:48) Posted: queuing now to buy as well. i vote FOR internalisation. Saw that ESR paid more than 35m for the manager, now shareholders will get it for cheap cheap and then all profits now go to shareholders  just see how desperate they are and you know how precious the manager is.  looking forward to higher dividend after internalisation
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luckyplate Member	03-Aug-2023 10:49        luckyplate About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nothing to be alarm ...sell off in the us market will flow over to the singapore market ...sell off seasons now .... So reit will also sell off. Nothing to do with the Agenda ... Seventy      ( Date: 03-Aug-2023 10:36) Posted: --- Post Removed by User ---
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sealTeam3 Member	03-Aug-2023 10:48        sealTeam3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	queuing now to buy as well. i vote FOR internalisation. Saw that ESR paid more than 35m for the manager, now shareholders will get it for cheap cheap and then all profits now go to shareholders  just see how desperate they are and you know how precious the manager is.  looking forward to higher dividend after internalisation
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sangsang1 Senior	03-Aug-2023 10:29        sangsang1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	hahha.. this is so exactly the same as during the merger.. they try to press the share price down right to scare shareholders once the dust settles and all the fearmongering stop, the share price will climb like after the merger vote Already hoot some liao and queuing for more now 8% dividend already. Huat ah!  hahah have u seen ESR REIT share price now. Once theystop the capital distribution, dividend will be only 2.4 cents. I wonder where the share price will be once shareholders realises that
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luckyguy3 Master	03-Aug-2023 10:03        luckyguy3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sabana reit share price started dropping. May be due to the CEO saying some employees have already resigned which means the interim manager will have problem functioning. And partly due to the uncertainities surrounding the internalisation. If it takes 1 year to complete, I think ESR-LOGOS share price will overtake Sabana reit share price within that 1 year. I wonder how Quarz worshippers will react. Then those who vote for this internalisation without having a ready internal manager ready to take over and if things start to spiral down , pls dun come here and complain. U know who u are.  A common logic is always dun break something that is working well. Sabana reits is doing well while other reits suffer. But sometimes ppl become greedy, they want more, working well is not enough for them and then they willing to take risks in wanting even more and blindly trusting the one who promise them everything from the moon.
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bechaotic Member	03-Aug-2023 09:34        bechaotic About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can anyone remember what was the take-over price offer from ESR in 2020?  And also at that time which was pandemic period, what price was Sabana trading at?  Could it be the offer price was much above the current price then & everyone was feeling miserable during pandemic period which was all gloom & doom.  Was that why the reit manager recommended to take up ESR offer?
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sealTeam3 Member	03-Aug-2023 00:40        sealTeam3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes! We?ve given enough chances for the current manager to ?prove? themselves. So far they dont seem to be acting in unitholders? best interest. It?s time we take back our money instead of filling up the sponsor?s pocket. mrwise      ( Date: 02-Aug-2023 23:05) Posted: We should give Quarz a chance to prove it! Anyway ESR is still in the game....let us see who can do better!! This is also good for all other S-reits to buck up!!!   mrwise      ( Date: 02-Aug-2023 22:34) Posted: Yes!!! Vote and support Qaurz!!! I dont want another low ball offer or right issue!
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sealTeam3 Member	03-Aug-2023 00:37        sealTeam3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	What about the 2 directors who shamelessly pushed for the lowball merger? They didnt even have the guts to put themselves up for endorsement. And what about how the Sabana manager use some convoluted way to install a director who was actually rejected by unitholders?? 😂 I think it?s good that Chan was removed as Director. Anyone with prior dealings with ESR is just shady. GoldenPig      ( Date: 02-Aug-2023 23:36) Posted: No reason for me to like or hate Quarz. And no reason for me to like or hate ESR. Both are just trying to earn more profits off Sabana. If ESR makes another lowball offer for Sabana, we can just turn it down. If the External Manager proposes AGM resolutions that I like or I am indifferent to, I vote for them regardless of what Quarz says. If the External Manager proposes resolutions that I don' t like, I vote against them, again regardless of what Quarz says. If Quarz wants to act the hero and push for internalisation, I expect it to do a proper job. Cannot expect half-baked proposals to win my vote and jeopordize my investment. If Quarz tries again later with a better well-prepared proposal and gives genuine support to it, I will be more confident to vote for it. Like Quarz and ESR, my goal is to make more profits off Sabana.   Seventy      ( Date: 02-Aug-2023 22:36) Posted: --- Post Removed by User ---
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GoldenPig Veteran	02-Aug-2023 23:36        GoldenPig About Contact  Quote this Post!
x 0   x 0  Alert Admin	No reason for me to like or hate Quarz. And no reason for me to like or hate ESR. Both are just trying to earn more profits off Sabana. If ESR makes another lowball offer for Sabana, we can just turn it down. If the External Manager proposes AGM resolutions that I like or I am indifferent to, I vote for them regardless of what Quarz says. If the External Manager proposes resolutions that I don' t like, I vote against them, again regardless of what Quarz says. If Quarz wants to act the hero and push for internalisation, I expect it to do a proper job. Cannot expect half-baked proposals to win my vote and jeopordize my investment. If Quarz tries again later with a better well-prepared proposal and gives genuine support to it, I will be more confident to vote for it. Like Quarz and ESR, my goal is to make more profits off Sabana.   Seventy      ( Date: 02-Aug-2023 22:36) Posted: --- Post Removed by User ---
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mrwise Supreme	02-Aug-2023 23:05        mrwise About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	We should give Quarz a chance to prove it! Anyway ESR is still in the game....let us see who can do better!! This is also good for all other S-reits to buck up!!!   mrwise      ( Date: 02-Aug-2023 22:34) Posted: Yes!!! Vote and support Qaurz!!! I dont want another low ball offer or right issue!! sealTeam3      ( Date: 02-Aug-2023 22:26) Posted: Yes, well said!! Let' s vote for resolutions 1 and 2!!
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mrwise Supreme	02-Aug-2023 22:34        mrwise About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Yes!!! Vote and support Qaurz!!! I dont want another low ball offer or right issue!! sealTeam3      ( Date: 02-Aug-2023 22:26) Posted: Yes, well said!! Let' s vote for resolutions 1 and 2!!  mcking      ( Date: 02-Aug-2023 09:35) Posted: --- Post Removed by User ---
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GoldenPig Veteran	02-Aug-2023 22:30        GoldenPig About Contact  Quote this Post!
x 1   x 0  Alert Admin	I also suspect Quarz is trying to control Sabana by influencing minority unitholders who worship Quarz, and thereby controlling the Internal Manager. I remember Quarz nominated Mr Chan Wai Kheong & succeeded in getting him appointed as independent director. Yet shortly after, they lobbied against his endorsement in last year' s AGM. One possibility that occurred to me then was Quarz wanted to kick him out because Mr Chan really acted independently after his appointment and refused to be controlled by Quarz. The other possibility of course is that Quarz was really incompetent & didn' t do their homework when nominating him, and only " discovered" his past sales transactions that they claimed compromised his independence. I am all for internalisation, but disappointed by Quarz' s vague promises & failure to prepare a more detailed plan to ensure successful internalisation. Some of its ideas & claims are really ....🙄   Quarz suggested that even more savings can be squeezed out by reducing salaries of top management in the Internal Manager. Well...if you want to pay only peanuts, then be prepared for monkeys who spoil the machinery rather than jack it up. No wonder some existing staff in the current Manager already resigned. Quarz also claimed the External Manager cannot leave until the trustee gives approval. Sure the External Manager cannot leave, BUT working staff that the External Manager assigns to Sabana can leave. External Manager is officially still there but not enough bodies to do the work. That' s why the trustee is concerned they might have to takeover the daily operations & incur much more costs. luckyguy3      ( Date: 02-Aug-2023 20:17) Posted: Well, someone or some entity are stroking Sabana unit holders' hatred for ESR by repeating what happened during the failed merger of ESR-reit with Sabana reits. Then making use of the unit holders' hatred for ESR, they want to get rid of ESR and then gain control over the operation of Sabana reit because the internal manager will " obey" that so called hero lo.. U see their EGM agenda, seems like the EGM agenda is more to kick out ESR than to implement internalisation (which they say may take up to one year to implement). Dun u think they are more interested to kick out ESR in the name of " internalisation?"     bechaotic      ( Date: 02-Aug-2023 17:21) Posted: Yes, very well said.  I attended last evening talk organised by SIAS on behalf of the reit management team.  If Quarz win the day, it will be a sad day for Donald & team.  He already said some members has tendered.  Sure.  The rest of the team will continue working till the new team is formed.  But with so much distractions during the transistion period, most would be focussing on HR works instead of property management!  Sabana latest results is quite commendable.  Dpu also up.  So why the need to urgently replace a pretty & good vase if it' s not broken?  Does Quarz has a hidden agenda we do not know but we are now choosing between continuity & stability with the existing team or facing many uncertainites with the new team.  Just be aware you be voting with your hard-earned dollars down the road
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sangsang1 Senior	02-Aug-2023 22:28        sangsang1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	lol, you still dont get the internalisation  now Sabana manager have the blank cheque, they can do anything they want and shareholders, no checks and balance  the 2 resolutions give ownership of the manager back to shareholders now. all shareholders are now owners. the blank cheque given to sabana manager is destroyed all shareholders win. in addition to saving on fees, getting a manager for super cheap price, manager will also have to work hard now lol Croesus was privatised at 23% above NAV after internalisation lets hope all sabana shareholders will win big too!
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sealTeam3 Member	02-Aug-2023 22:26        sealTeam3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes, well said!! Let' s vote for resolutions 1 and 2!!  mcking      ( Date: 02-Aug-2023 09:35) Posted: --- Post Removed by User ---
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sealTeam3 Member	02-Aug-2023 22:23        sealTeam3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	well, i think there is a reason why Sabana has been performing quite well right.. we' ve got Quarz to always keep the manager on their toes.. If Quarz wasn' t there, Sabana would probably have been merged with ESR REIT at a very lowball price.. and unitholders managed to vote down the share issue mandate! How many REITs have done that?  I think i' d be more wary of the manager and ESR who claim this and that but ultimately they are just sucking unitholders money.. they' ve been making so much profit out of unitholders! They gotta go..      luckyguy3      ( Date: 02-Aug-2023 21:52) Posted: well... u the only one who loves Quarz so much that ur view is 100% one sided cult like, siding with Quarz without even bother to at least be abit wary of them since their plan for internalisation need 1 year to complete and u giving them blank cheques . Many users have already tried to reason that Quarz may not have a very solid plan and yes I also agree that ESR is no good too. If u look at my posting, I also say that ESR is not doing a good job, look at ESR-LOGOS reit and u will know why. And I also said that IF internalisation works with Sabana reit, I will be the first one to shout kick ESR out of ESR-LOGOS reit and implement internal manager. I try to be open minded about it, this is not a cult .. U seem to be one sided all the way. U are too trusting of Quarz already. How u do know Quarz is doing the right thing when Sabana reit is one of the best performing reit? If something is working why break it? right? But if ur passion is used in ESR-LOGOS asking for internalisation, I will applaud and support u since ESR-LOGOS is doing badly. BUT Sabana reit is performing very well. So one will question why Quarz wants to kick out ESR manager when Sabana reit is performing so well?    sangsang1      ( Date: 02-Aug-2023 20:54) Posted: what luckyguy say is super funny.. right now ESR owns 100% of the manager. manager makes 100% of the decision, shareholders have no say at all. the internal manager now gives every shareholder a piece of the pie and say in how things are run. everybody gains. again, if the manager really sides with shareholders, they should join the new manager owned by shareholders.. why fight so hard?  If luckyguy like ESR' s management so much, he should invest more in esr related reits such as esr reit, suntec and ara hospitality. heheheh
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mrwise Supreme	02-Aug-2023 22:21        mrwise About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Yes. I also supported Quarz resolution! This is the best chance!   Seventy      ( Date: 02-Aug-2023 20:34) Posted: --- Post Removed by User ---
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luckyguy3 Master	02-Aug-2023 21:52        luckyguy3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	well... u the only one who loves Quarz so much that ur view is 100% one sided cult like, siding with Quarz without even bother to at least be abit wary of them since their plan for internalisation need 1 year to complete and u giving them blank cheques . Many users have already tried to reason that Quarz may not have a very solid plan and yes I also agree that ESR is no good too. If u look at my posting, I also say that ESR is not doing a good job, look at ESR-LOGOS reit and u will know why. And I also said that IF internalisation works with Sabana reit, I will be the first one to shout kick ESR out of ESR-LOGOS reit and implement internal manager. I try to be open minded about it, this is not a cult .. U seem to be one sided all the way. U are too trusting of Quarz already. How u do know Quarz is doing the right thing when Sabana reit is one of the best performing reit? If something is working why break it? right? But if ur passion is used in ESR-LOGOS asking for internalisation, I will applaud and support u since ESR-LOGOS is doing badly. BUT Sabana reit is performing very well. So one will question why Quarz wants to kick out ESR manager when Sabana reit is performing so well?    sangsang1      ( Date: 02-Aug-2023 20:54) Posted: what luckyguy say is super funny.. right now ESR owns 100% of the manager. manager makes 100% of the decision, shareholders have no say at all. the internal manager now gives every shareholder a piece of the pie and say in how things are run. everybody gains. again, if the manager really sides with shareholders, they should join the new manager owned by shareholders.. why fight so hard?  If luckyguy like ESR' s management so much, he should invest more in esr related reits such as esr reit, suntec and ara hospitality. heheheh
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sangsang1 Senior	02-Aug-2023 20:54        sangsang1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	what luckyguy say is super funny.. right now ESR owns 100% of the manager. manager makes 100% of the decision, shareholders have no say at all. the internal manager now gives every shareholder a piece of the pie and say in how things are run. everybody gains. again, if the manager really sides with shareholders, they should join the new manager owned by shareholders.. why fight so hard?  If luckyguy like ESR' s management so much, he should invest more in esr related reits such as esr reit, suntec and ara hospitality. heheheh
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Powdyman Member	02-Aug-2023 20:48        Powdyman About Contact  Quote this Post!
x 0   x 0  Alert Admin	Talking about putting up a strong team. Quarzs legal team has proven twice, not once to argue their case against ESR's legal team in regards to the EGM. Again, local talent in play. If that didn't happened, we won't be talking about this today. After several mergers and takeovers in Singapore, there are plenty of good candidates out there in Singapore. Internalisation of the Reit Manager is just another process shareholders need to wake up from their comfort zone to unlock the real gem in Sabana Reit. Like Ben Paul of BT said "need to change the status quo to unlock value." Powdyman      ( Date: 02-Aug-2023 19:57) Posted: We have kicked out Kevin Xevaraj, the former CEO. He was appointed by the previous sponsor, Vibrant. Now, we shall see whether the current CEO, appointed by ESR, the current sponsor, is align with unitholders of Sabana Reit. He has played us out once. We shall see whether his loyalty is still with ESR. Why afraid? Singapore attracts the best talent in the world. Nothing short of that. Even local Singaporeans are world champions. Look at how Viva and Ara Logos (formerly Cache Log) unit holders have suffered when their offered share price plunged. Until today, they have not recovered. They were betrayed with more placements and rights. Telling a nice story but selling assets at a huge discount. More short Leasehold land assets to be sold in the coming few months or years. Not over yet. Do you think Quarz doesn't have a plan? It is already played out in front of you, in case you haven't realised it. Step by step. Just that they cannot announced it.
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luckyguy3 Master	02-Aug-2023 20:17        luckyguy3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well, someone or some entity are stroking Sabana unit holders' hatred for ESR by repeating what happened during the failed merger of ESR-reit with Sabana reits. Then making use of the unit holders' hatred for ESR, they want to get rid of ESR and then gain control over the operation of Sabana reit because the internal manager will " obey" that so called hero lo.. U see their EGM agenda, seems like the EGM agenda is more to kick out ESR than to implement internalisation (which they say may take up to one year to implement). Dun u think they are more interested to kick out ESR in the name of " internalisation?"     bechaotic      ( Date: 02-Aug-2023 17:21) Posted: Yes, very well said.  I attended last evening talk organised by SIAS on behalf of the reit management team.  If Quarz win the day, it will be a sad day for Donald & team.  He already said some members has tendered.  Sure.  The rest of the team will continue working till the new team is formed.  But with so much distractions during the transistion period, most would be focussing on HR works instead of property management!  Sabana latest results is quite commendable.  Dpu also up.  So why the need to urgently replace a pretty & good vase if it' s not broken?  Does Quarz has a hidden agenda we do not know but we are now choosing between continuity & stability with the existing team or facing many uncertainites with the new team.  Just be aware you be voting with your hard-earned dollars down the road! QInvestor      ( Date: 01-Aug-2023 10:05) Posted: I posted this question at the Quarz Webinar but did not get a response from Quarz: "You have referenced the Croesus Retail Trust internalisation as an example for Sabana REIT to follow. How does your proposed approach to internalisation differ from that of Croesus Retail Trust? Please provide details of the Croesus internalisation. Thank you." I googled and found that the Croesus Manager was not removed but acquired by Croesus Retail Trust. "On 12 June 2016, Croesus Retail Trust (SGX: S6NU) (CRT) shocked the market when the trust announced it intended to acquire its manager for S$50 million. This will be the first of its kind in Singapore where a property trust is an internally-managed investment vehicle. As the proposed deal required unitholders? approval, an extraordinary general meeting was carried out on Thursday, 30 June 2016." This means the Croesus internalisation was done without any disruption to Croesus business and operations. The Quarz resolutions, if passed, effectively means that the shareholders are firing everyone who is running Sabana Reit - from the Board, CEO, CFO, HR Head down to the staff working for the Property Manager. Sabana Reit will have to re-hire every single position. Quarz has provided assurances that there is no risk of disruption as they expect the current Sabana Manager to continue while the internalisation process is still underway. IMHO, this is wishful thinking - Quarz talks about entities/organisations without any regard for the employees involved - people who are working for a living. Once Sabana shareholders vote to remove the Manager, many of these employees will be looking out for new jobs - do not expect the Manager to backfill any resigned position. Quarz has proposed resolution 2 which directs the Trustee (i.e. HSBC Institutional Trust Services) to take on the mammoth task of executing this internalisation. Take note that it is not just people who need to be rehired. Governance and processes all need to be put in place. Sabana Reit is currently an entity with no one directly on its own payroll. In my opinion, Sabana shareholders will be writing several blank cheques if we pass resolution 2. Take note that most Reits in Singapore do not operate with an internal manager. If the resolutions are passed, Sabana REIT will be plunged into a black hole. While Sabana is in this black hole, it is very likely tenants will not be renewing their leases. Quarz has made claims about cost savings based on their assumptions and provided assurances for which they are not the action owners. I for one do not believe the Quarz resolutions will work and I will not put my investment in Sabana at risk.
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