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They are in control of everyting , no easy to counter their game .
fruitty ( Date: 30-Apr-2017 07:38) Posted:
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Next time demand for paper votes with names (check box is empty before commencing) and counting to be done in the session. Also demand for dialogue to be open and not through paper questions. Don' t trust e-voting. If they disagree don' t continue.
David has accomplished his mission.
chengwh1 ( Date: 29-Apr-2017 21:32) Posted:
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Did anybody check the total votes again ? Nobody, right ? I don' t see anybody countng the people who left,...
zobo123 ( Date: 29-Apr-2017 18:47) Posted:
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Mgr and staff has no more excuses about being too busy preparing for the egm and focus on finding tenants for grossly vacant lots instead of hunting for grossly over valued sponsor's properties to buy. Even cheaply rent out the many vacanted space will increase the ridiculously low dpu.
chengwh1 ( Date: 29-Apr-2017 17:29) Posted:
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If the total votes for the resolution being the same and before the people left then something is wrong
From the third resolution of the AGM earlier, the mgrs will not be able to do Rights, Placement and raise more units without asking for consent from unitholders for FY2017. Don' t know if this will ut more constraints onto the mgrs when they try to turn things around for unitholders,... since we continued to let them stay.
I noticed many unithoders started leaving around 12 noon because they needed to go back to their jobs, probably because they took half-day leave to attend the AGM/EGM in the morning. When they returned the e-voting devices to the desk, will ' someone vote on their behalf outside' ? Curious about this,....
Lifting of trading halt at 4:30pm today, let' s see how the market will react.
laksaman57 ( Date: 28-Apr-2017 15:29) Posted:
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From today voicing, can see that very many are stuck and can't sell 😔
flash1212 ( Date: 28-Apr-2017 14:47) Posted:
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Only potential catalyst is the strategic review but let's not bet on it. Indeed very disappointed that eshang and tong kept mum throughout the saga. If got chance I will dump my holding and recycle capital. I won't anyhow dump lah but maybe if the loss is not great I will do so.
Very sad indeed.
With this development, will current Sabana shareholders continue to hold on or dump the shares?
Quite a sad day. Hearing so many retiree poured out their heart. Doubt the coming dpu declaration will be good. HPH trust post-agm's earning per unit clashes. Will Sabana be the same 😕
Let' s hope so that the dpu show improvement come May. But can the improvement be sustained from now onwards is more important. Since majority have voted their wish, can only hope that they made the right call. All the best for the unitholders and hope the manager learn very good lessons from this episode and improve themselves and the REIT for the better going forward!
laksaman57 ( Date: 28-Apr-2017 12:55) Posted:
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Maybe many still hopeful of improve dpu come May release 😂
Yes😢
jeremyow ( Date: 28-Apr-2017 12:46) Posted:
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Laksaman57, do you mean majority voted to keep the current manager in place?
laksaman57 ( Date: 28-Apr-2017 12:31) Posted:
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Thanks very much to our on site reporter Laksaman57 for the timely report on Sabana' s AGM and EGM! I give you 5 out of 5 stars for your good timely reporting! I have some thoughts on the lady' s thinking whether to vote for or against the resolutions considering next quarter' s dpu will be announced at a later date. I think the next quarter' s dpu is a minor concern. The focus should be on whether one wants the current manager to continue managing the REIT and not another quarter' s dpu and results.
So what if next quarter' s dpu and results show improvement? It is the long term track record which counts and not just only one quarter of results and dpu. I believe all the unitholders of Sabana REIT have already known their manager well enough and their track record for not just one year but several years of their operating history.
The only thing for one to vote against the resolutions is to forgive the manager for its past performance and take a calculated risk that they have the ability to turn this REIT around for improvements and also that one is willing to give them another chance to make good from now on. But, that will be based on goodwill and faith given to the manager allowing them another last chance to redeem things in future to change for the better.
If one is not willing to give the manager another chance and also think they do not have the ability to turn things around, then by all means vote pass all the resolutions to remove the manager. As long as the consequence of voting out the manager will not result in too drastic a financial loss for the unitholders and may potentially open up other options for better improvements to the REIT ahead, maybe it is afterall better to remove the manager.
In carrying out the voting decision, do think carefully about the first rule of investing which is to always protect one' s capital! If voting out the manager helps to protect one' s capital from drastic financial loss then vote out the manager. If voting out the manager may result in even more financial loss for the unitholders, then maybe other options need to be seek to address the underperformance issue of the current manager. Protect one' s capital!
laksaman57 ( Date: 28-Apr-2017 12:14) Posted:
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Lost