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Q4 DPU 0.88cents equivalent to 1.25cents (0.88x1.42) pre-right.
DPU for 2016 is 5.01cents, as expected, the decrease is more than 46% from 2013 of 9.38 cents
Fangqq ( Date: 24-Jan-2017 10:23) Posted:
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http://www.straitstimes.com/business/angry-investors-want-reit-manager-kicked-out
See above link for the Straits Times article mentioned by angmohlin on the initiative to remove the Manager. The issue is on whether the Manager is willing to convene a general meeting as requested by Jerry Low and other activist unitholders. I wonder is there any legal way to seek to ensure the Manager has to convene the meeting for all unitholders to vote whether they will like to remove the Manager? Nevertheless, this first case of investor activism has paved the way as a precursor for shareholders' voices to be heard and their fair interests protected. Good job Jerry Low and other activist unitholders!
angmohlin ( Date: 25-Jan-2017 14:31) Posted:
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It was a right timing today for the Straits Times to report this initiative of to remove the Manager and to express retail unitholders unhappiness as I believe Sabana should have a board meeting today for the result announcement. The Directors should wake up by now or else they may be facing a risk to be removed as well.
Let' s all support this move! It' s time we act on this! We need our money back!
investor7 ( Date: 25-Jan-2017 12:48) Posted:
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Support! Lousy executives should step down. Shame on them.
Hi all, please join the facebook group here so that we the retail unitholders can be united in this action!
https://www.facebook.com/groups/1661599120805998/
Hi, REITSWEEK has reported this case.
https://www.reitsweek.com/2017/01/sabana-reit-faces-calls-for-management-change-amid-questions-over-performance.html
Wind up this loser, I support. At least keep my losses to negligible amount if wind up and return around 50 cents per unit.
Fangqq ( Date: 24-Jan-2017 10:23) Posted:
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Reasons to remove Sabana Reit Manager:
1) Poor performance: reflected in DPU decreased by more than 46% from 2013 of 9.38cents to 2016 of less than 5 cents (expected, will know after 25 Jan 2017)
2) Market shows no confidence to the current Manager: reflected in share price decreased by about 60% from $1.05(IPO) to $0.42
note: current share price is $0.37 which is equivalent to pre-right issue of about $0.42 (0.37x1.42 &ndash 0.42x0.258)
3) Either appoint an internalised manager to restore investor confidence, and for better performance and cost benefit,
Or winding up Sabana Reit to realize the true value of Sabana Reit since its&rsquo NAV of $0.64 is more than 70% higher than current share price of $0.37
nngeeh ( Date: 24-Jan-2017 08:53) Posted:
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Shareholders of IHC had just succesfully kicked out most the directors. If they can do it, i believe the shareholders of Sabana can achieve that too. Beside kicking out the managers, maybe .... can kick out the directors too who is not looking after the interest of the shareholders.
The shareholders of IHC have the help from Oxley team and Quarz cap. Hope that they can come in to invest in this undervalue REIT. OUE limited just announced that the acquire 12.5% of IHC because it is undervalue. Hopefully, other giants like OUE, Mapletree, Ascendas can spot this ... and invest similar to what is happening at IHC.
What happened at IHC is surely encouraging ......
junction ( Date: 23-Jan-2017 22:11) Posted:
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You are wrong to assume successful investors support the management.
alexchew ( Date: 23-Jan-2017 13:02) Posted:
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Valuation looks suspicious. How can all 3 come out with the same figure.
ACTIVIST_SPEAKS ( Date: 23-Jan-2017 18:47) Posted:
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Good Idea. Support investor activism and the organiser of this Sabana oust the manager movement.
nngeeh ( Date: 23-Jan-2017 19:01) Posted:
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As the current price is way below the NAV, Sabana should sell the properties (at valuation) instead of buying. If they are able to sell 40% of its properties at it' s value, they will be debt free.
I support your effort to make your voices heard ... and stop the purchase, and use the proceeds that are raised from rights to clear the debt instead of buying new properties at valuation.
the massive over subscribed of units, says that the rights issue is successful. Thus, i doubt anything can be changed.
Rooting for you guys....this will be a wake up call for the rest of the non-performing REIT managers.
Support you guys on investor activisim! I think Singapore is still lagging behind in this aspect. We need more such activist culture so that the interest of management of companies will be more aligned with shareholders' interest as well. Hope that a good and fair outcome can be achieved from this activisim so that it is fair for all stakeholders of Sabana Shari' ah Compliant REIT (management, unitholders, tenants and any related parties).
ACTIVIST_SPEAKS ( Date: 23-Jan-2017 12:24) Posted:
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I got Shanghai Summit' s office from:
https://www.sgpbusiness.com/company/Shanghai-Summit-Pte-Ltd
It is good if your letter in english & chinese versions.
Shanghai Summit Pte Ltd' s office located at 8 Shenton Way, 45-01 AXA Tower Singapore 068811. Hopefully they will support the aforesaid proposal to remove the Manager.
Thank you for your hard works and do it soonest possible while this issue still hot. The organisers should write a letter to the China tycoon Mr. Tong Jinquan (2.14%) & Shanghai Summit Pte Ltd (6.21%) to obtain their support, in total Mr. Tong has controlling 8.35%. They have had bought Sabana at $1.04/unit and believes they have also frustrated.