In a filing via SGX, CEO of Sabana’s manager Han Yong Lee Donald said that Ng was leaving as she believes that “scaling up is the right way forward for Sabana REIT, given the limitations of its portfolio and the uncertainties of the external environment”.
“In the management of a REIT, there needs to be a balance of interest between short-term and longer-term investors. Ms Ng respects that some unitholders prefer breaking up the portfolio or stripping the REIT of its best assets to recognise a one-off gain. However, she believes that this is not in the best interest of the REIT and longer-term investors,” Han added.
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Ng served as Sabana REIT’s independent non-executive director since August 2019.
Her resignation will be effective Dec 31, 2020.
Units in Sabana REIT closed 1 cent lower or 2.8% down at 34.5 cents on Dec 7.
