Alpha Integrated RE    Last:0.485    -0.005

REMOVE SABANA REIT MANAGER

Great article in latest The Edge magazine on exposing mgr maintaining high fee by acquisition and divestment of property. All vested should get a copy.

huatster      ( Date: 14-Apr-2017 14:44) Posted: We must get rid of useless and incompetent managers.   laksaman57      ( Date: 13-Apr-2017 22:47) Posted: .....unitholder revolt at Sabana REIT could catalyse further changes in Singapore?s REIT sector...

 

We must get rid of useless and incompetent managers.

 

laksaman57      ( Date: 13-Apr-2017 22:47) Posted: .....unitholder revolt at Sabana REIT could catalyse further changes in Singapore?s REIT sector.... laksaman57      ( Date: 13-Apr-2017 22:11) Posted: http://www.theedgemarkets.com.sg/article/are-fees-paid-reit-managers-really-problem

 

Good info for those who cannot make it to the meeting.

ACTIVIST_SPEAKS      ( Date: 11-Apr-2017 09:58) Posted: --- Post Removed by User ---

 

.....unitholder revolt at Sabana REIT could catalyse further changes in Singapore?s REIT sector....

laksaman57      ( Date: 13-Apr-2017 22:11) Posted: http://www.theedgemarkets.com.sg/article/are-fees-paid-reit-managers-really-problem

 

http://www.theedgemarkets.com.sg/article/are-fees-paid-reit-managers-really-problem

 

Good job

 

Let make history in REIT industry in Singapore. It is also a wake up call for the incompetent managers to pull their socks to work hard for the interest of unitholders.

mrwise      ( Date: 12-Apr-2017 08:38) Posted: Good summary! Let's all do our part and vote actively! This is our chance to remove incompetent manager! Your money u decide! ACTIVIST_SPEAKS      ( Date: 11-Apr-2017 09:58) Posted: --- Post Removed by User ---

 

Good summary!

Let's all do our part and vote actively!

This is our chance to remove incompetent manager!

Your money u decide!

ACTIVIST_SPEAKS      ( Date: 11-Apr-2017 09:58) Posted: --- Post Removed by User ---

 

Good job, I guess it will be the same for SRS members.

ACTIVIST_SPEAKS      ( Date: 11-Apr-2017 09:33) Posted: --- Post Removed by User ---

 

Abridged reply from DBS as follows: 

" " " "

...with effect from January 2016, customers who would like to attend GM' s (for companies incorporated in Singapore) don' t need to obtain a letter from the Agent Bank anymore. 


You can just walk-in to the GM and produce your NRIC/Passport for verification. 

However, if you won' t be able to attend the GM, you can submit your voting instruction by writing to us indicating the following: 

- CPF Investment account number 
- number of shares 
- vote for/against the resolution 
- date of GM 
- append the signature as per your CPF Investment account record with the bank 

You can submit your instruction at any of our DBS branches or send in your original letter to the following address: 

DBS Bank - T& O CPF/SRS Operations 
10 Toh Guan Road 
#04-11, DBS Asia Gateway 
Singapore 608838 

Your instruction has to reach us at least 6 business days before the GM date. " " "

I won' t be able to attend the AGM/EGM so I will be writing the letter to instruct the bank to vote for all the 4 resolutions! 

 

ACTIVIST_SPEAKS      ( Date: 09-Apr-2017 19:52) Posted: --- Post Removed by User ---

 

mrwise      ( Date: 09-Apr-2017 09:08) Posted: I believe that uncertainty and creation of awareness of current incompetent manager is good. It is then the lousy manager will be taken over and better manager will manage the property well like other REITs. I am not afraid of initial volatile prices if there is and prepare to take the Low risk. Our property comes with a value and no equivalent with zero dollars. No need to scare us or tell us what u think we should do. We have gone through the Low prices...we will no longer be the timid cats..with the scary remarks provided... We will roar like a lion and do what is right in our egm. Most of us knows the situation well. No longer kept in the dark. The ugly things were exposed. I don't wish to make further comments but certainly hope all investors to take a good look at what is best for you. See u all at the coming EGM. Let's vote for our rights this time. We can make history to flip the company around ! N W32012      ( Date: 08-Apr-2017 22:33) Posted: "Uncertainty" will cause lender to recall the loan early. Uncertain as to the future business direction, uncertain as to who is the replacement manager, uncertain as to whether trustee will take on the role of looking for the manager, uncertainty as to how long it will take to look for the manager, uncertainty as to regulatory approval for the new manager etc. There are so much uncertainties. If you are the lender, are you willing to stick your neck out to bet that all these uncertainty will iron itself out or take the easier route to just redeem the loans and put the money to better investments.

 

You are right in yr analysis. The guy is closely align with the opp camp and not giving an independent view. If reit mgr want to resolve, they could hv call for meeting way before this egm. Going to SIAS is only to limit their fallout and some scare loan tactic. I do remember the case of IHC which 1 of the directors use scare tactic only to be rebutt back by the outgoing ex-ceo. No point wasting time in SIAS.

ehclim      ( Date: 09-Apr-2017 10:47) Posted: Dear Unitholders, he admitted already so you know who is he. ehclim      ( Date: 09-Apr-2017 09:59) Posted: I summarize what he has said: 1: Pretend to be a kind soul and advised unitholders to sell the units before it drops further and protect their hard earned money. 2. Use hard approach to threaten the unitholders the consequence of booting out the manager likes the loan facilities will get recall by the banks. 3. Now he uses soft approach by advising unitholders to attend so call independent experts advice talk. I hope unitholders can see his true colour by now. Unity is strength.

 

Dear Unitholders, he admitted already so you know who is he.

ehclim      ( Date: 09-Apr-2017 09:59) Posted: I summarize what he has said: 1: Pretend to be a kind soul and advised unitholders to sell the units before it drops further and protect their hard earned money. 2. Use hard approach to threaten the unitholders the consequence of booting out the manager likes the loan facilities will get recall by the banks. 3. Now he uses soft approach by advising unitholders to attend so call independent experts advice talk. I hope unitholders can see his true colour by now. Unity is strength. ehclim      ( Date: 09-Apr-2017 09:04) Posted: Dear unitholders, you notice this guy is so desperate and persistent. He was the last one to post on this thread last night and the first to post in the early morning.

 

I have just written to DBS asking them how I can excercise my vote in the upcoming EGM. 

 

Please show me any instance when I threaten to sue.

ehclim      ( Date: 09-Apr-2017 10:12) Posted: Thanks for mentioning. I do not wish to mention because I do not want to get into trouble with this guy. He was a lawyer. I witnessed many occasions he threatened to sue his members that go against him. HVRRVH      ( Date: 09-Apr-2017 10:04) Posted: Please lah, what has SIAS done so far for retail investors? some kind of invest programmes in partnership with other institutons? What have they done pre ABL? Even ST' s Mr Goh sounded more alarm than them I reckon. Their latest initiative is to ask selected companies questions after companies released their FY reports. They can' t even get their question right in one of the questions they asked Keong Hong!!! My goodness. SIAS get their funds from ' donations' by listed companies and please go and find out how much SIAS top man is drawing per year as compensation, make me sick.

 

https://www.nextinsight.net/story-archive-mainmenu-60/938-2016/10725-indiabulls-property-investment

 

Thanks for your advice.

HVRRVH      ( Date: 09-Apr-2017 10:13) Posted: I am no stranger to law either. We are just talking facts which can be verified easily. Do not worry.  ehclim      ( Date: 09-Apr-2017 10:12) Posted: Thanks for mentioning. I do not wish to mention because I do not want to get into trouble with this guy. He was a lawyer. I witnessed many occasions he threatened to sue his members that go against him.

 

Ezra hold meeting with bond holders...swayed them...now bond holders LL Ask me attend SIAS meeting ? Forget about it !

 

I am no stranger to law either. We are just talking facts which can be verified easily. Do not worry. 

ehclim      ( Date: 09-Apr-2017 10:12) Posted: Thanks for mentioning. I do not wish to mention because I do not want to get into trouble with this guy. He was a lawyer. I witnessed many occasions he threatened to sue his members that go against him. HVRRVH      ( Date: 09-Apr-2017 10:04) Posted: Please lah, what has SIAS done so far for retail investors? some kind of invest programmes in partnership with other institutons? What have they done pre ABL? Even ST' s Mr Goh sounded more alarm than them I reckon. Their latest initiative is to ask selected companies questions after companies released their FY reports. They can' t even get their question right in one of the questions they asked Keong Hong!!! My goodness. SIAS get their funds from ' donations' by listed companies and please go and find out how much SIAS top man is drawing per year as compensation, make me sick.

 

Thanks for mentioning. I do not wish to mention because I do not want to get into trouble with this guy. He was a lawyer. I witnessed many occasions he threatened to sue his members that go against him.

HVRRVH      ( Date: 09-Apr-2017 10:04) Posted: Please lah, what has SIAS done so far for retail investors? some kind of invest programmes in partnership with other institutons? What have they done pre ABL? Even ST' s Mr Goh sounded more alarm than them I reckon. Their latest initiative is to ask selected companies questions after companies released their FY reports. They can' t even get their question right in one of the questions they asked Keong Hong!!! My goodness. SIAS get their funds from ' donations' by listed companies and please go and find out how much SIAS top man is drawing per year as compensation, make me sick.  W32012      ( Date: 09-Apr-2017 09:41) Posted: Isn' t this SIAS-moderated forum an opportunity for you to go question and challenge Sabana management if you claim their claims of early loan redemption is false. The SIAS independent expert will be there to moderate the forum and give their views to claims by all parties. If SIAS' expert indeed support your views, it will definitely sway undecided unitholders to your rank, vice versa. More information is never a bad thing in investment.