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The robbers chased the thieves out , the game goes on and on.
luckyplate ( Date: 05-Nov-2025 11:15) Posted:
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so is this good news for sabana shareholders ?? They moving to cbd area to save cost ??
Rocket888 ( Date: 03-Nov-2025 05:52) Posted:
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Dear eddyeddy, Quarz and Volare own more than 30% of Alpha Integrated REIT (ex Sabana). I am sure they will be most keen in terms of reducing overheads and maximising DPU...
eddyeddy ( Date: 02-Nov-2025 18:55) Posted:
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Dear tonytony, a small correction. The $13+ million has been spent by the Trustee [HSBC Institutional Trust Services (Singapore) Limited] and not by the Internal Manager. The internal manager has just taken over and we will have to wait for future results to see how they perform.
tonytony ( Date: 02-Nov-2025 12:25) Posted:
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The Quartz guys cut their teeth in making companies they invest in to cut cost and increase dividend to shareholders. Don' t think it will be different here.
Have you seen the Octagon building? its a B or C building in the CBD built in the 1980s so 40+ years old now ... check ESR, keppel, capland managers and see where they are located
Have you seen the Octagon building? its a B or C building in the CBD built in the 1980s so 40+ years old now ... check ESR, keppel, capland managers and see where they are located
posh letter box address u mean? hahahaa huat ah... during covid ,everyone work from home, now no covid but got more gross floor at ntp to rent out....nice try to throw smoke bomb
eddyeddy ( Date: 02-Nov-2025 18:55) Posted:
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haha...nice throwing smoke bomb, fake news.. octagon is just a service office letter box address...this means they will rent out old office to kore new tenants more space at NTP......more rental income.....huat ah... hahaha 50 lai liao
n3wbie ( Date: 02-Nov-2025 22:05) Posted:
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Hadnt realised this, good spot and thanks for sharing. Interesting that the internal manager wouldnt be closer to their tenants but be in CBD although that would be closer to the bankers, etc.
tonytony ( Date: 02-Nov-2025 12:25) Posted:
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Not their personal money, it is the unit holders monies Why not spend to their hearts contents
tonytony ( Date: 02-Nov-2025 12:25) Posted:
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This internal manager has spent more than 13 millions , now still want to spend more on a POSH office in CBD , The Octogan at cecil Street . The previous manager operated out from NTP , which is nearer to the tanants and cost saving . This new team has no cost saving concept at all !
Sabana Reit completes internal management transition, renamed as Alpha Integrated Reit
[SINGAPORE] Sabana Industrial Real Estate Investment Trust (Reit) has completed its long-anticipated internalisation of its manager.
Alpha Integrated Reit Management has been appointed as the trust&rsquo s new manager, replacing Sabana Real Estate Investment Management, said trustee HSBC Institutional Trust Services on Thursday (Oct 23).
The Reit has also been renamed as Alpha Integrated Reit, and its trust deed will be amended to reflect the new internalised management structure.
In a farewell message, Sabana Real Estate Investment Management said: &ldquo We have been steadfast in our strategy and execution &ndash extracting the most from our existing portfolio to grow organically through asset-enhancement initiatives and asset rejuvenations &ndash all (this while, keeping strict discipline) on our capital management.&rdquo
For the third quarter ended Sep 30, the Reit posted a 38.4 per cent rise in distribution per unit to S$0.0101, from S$0.0073 in the year-ago period. The total income available for distribution increased 38.2 per cent year on year to S$11.3 million.
Improvements in revenue and net property income were driven by a higher overall portfolio occupancy rate of 87 per cent, as well as an 11.3 per cent positive rental reversion.
Industrial asset New Tech Park was named the &ldquo crown jewel&rdquo of the trust&rsquo s portfolio for its &ldquo sterling&rdquo Q3 performance. The business park&rsquo s occupancy rate hit a 12-year high of 94.7 per cent as at Sep 30, up from 86 per cent as at Jun 30.
&ldquo Serving as the manager of the Reit has been a privilege and a responsibility we took seriously,&rdquo Sabana Real Estate Investment Management added.
The trustee noted that the new internalised manager has the sufficient data and full ability to assume management of the Reit immediately.
It added that all the lenders under the trust&rsquo s existing facilities have provided the necessary waivers to accommodate the management transition, though some remain subject to post-appointment conditions.
The trustee also reminded unitholders of their regulatory obligations under the Securities and Futures Act.
Among these is the requirement that any investor seeking effective control of the new internalised manager &ndash including through holding 20 per cent or more of the trust&rsquo s units &ndash must first obtain approval from the Monetary Authority of Singapore (MAS).
Major unitholders are also required to meet MAS&rsquo fit and proper criteria, and notify the manager if their holdings cross prescribed thresholds.
Long-drawn-out saga
The announcement concludes a process that began in 2023. At an extraordinary general meeting held on Aug 7 that year, Sabana Reit&rsquo s unitholders voted to oust its external manager and have an internal manager wholly owned by the trustee.
But the internalisation, led by activist investor Quarz Capital, was delayed by disputes and legal challenges. Related costs mounted to S$12.2 million as at end-June 2025.
Despite these issues, the new internalised manager received in-principle approval from MAS in August for a capital markets services licence.
Alpha Integrated Reit Management&rsquo s chief executive and chief financial officers are expected to be Karen Lee and Goo Li Ling, respectively.
For many years Sabana was a laggard operationally as evidenced by its high vacancy rate and this was not a secret to investors as reflected in the big discount in share price to the $0.50+ NAV vs everyone else in Singapore industrial who trades at a premium.
The improved operational performance in recent quarters is largely a function of market dynamics - Sabana has vacancies unlike most other local industrial REITs and there is market demand so occupancy and hence profit is going up more than elsewhere. I don' t want to overly downplay the departing management' s contribution in this regard (and I am sure their termination did not make it easy to focus on doing their jobs), but this is their bread and butter and I therefore regard the recent strong performance as like a reversion to the mean of occupancy levels in at least the mid 90s%. There is still a lot of this to come, both in terms of getting occupancy back where it should be and hence an improving share price, and I would expect the internal manager to have no issues in continuing to deliver this reversion. This is the easier part of their job, and low hanging fruit for investors.
The improved operational performance in recent quarters is largely a function of market dynamics - Sabana has vacancies unlike most other local industrial REITs and there is market demand so occupancy and hence profit is going up more than elsewhere. I don' t want to overly downplay the departing management' s contribution in this regard (and I am sure their termination did not make it easy to focus on doing their jobs), but this is their bread and butter and I therefore regard the recent strong performance as like a reversion to the mean of occupancy levels in at least the mid 90s%. There is still a lot of this to come, both in terms of getting occupancy back where it should be and hence an improving share price, and I would expect the internal manager to have no issues in continuing to deliver this reversion. This is the easier part of their job, and low hanging fruit for investors.
The manager seems to be doing quite well to turn around the REIT as shown by their earnings.
Hope the internal manager can do better?
Hope the internal manager can do better?
b888sg ( Date: 23-Oct-2025 21:30) Posted:
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Sabana Reit completes internal management transition,
renamed as Alpha Integrated Reit
Removal of Sabana Real Estate Investment Management Pte. Ltd.
and Appointment of Alpha Integrated REIT Management Pte. Ltd. as manager of Sabana Industrial REIT
with effect 7.00pm 23 Oct 2025.
and Appointment of Alpha Integrated REIT Management Pte. Ltd. as manager of Sabana Industrial REIT
with effect 7.00pm 23 Oct 2025.
Sabana Reit&rsquo s Q3 income available for DPU up 38.4% at S$0.0101 on higher occupancy at New Tech Park
Revenue rises 5.3% year on year to S$29.9 million net property income climbs 16% to S$16.9 million
[SINGAPORE] Sabana Industrial Real Estate Investment Trust (Reit) posted a 38.4 per cent rise in income available for distribution per unit (DPU) to S$0.0101 for its third quarter ended Sep 30. This is compared to DPU of S$0.0073 in the year-ago period.
In a bourse filing on Wednesday (Oct 22), the manager of the Reit said revenue climbed 5.3 per cent to S$29.9 million, from S$28.4 million in Q3 2024. Meanwhile, net property income grew 16 per cent to S$16.9 million from S$14.5 million previously.
The total income available for distribution rose 38.2 per cent year on year to S$11.3 million from S$8.2 million.
The manager attributed the improvements in revenue and net property income to a higher overall portfolio occupancy rate of 87 per cent, as well as an 11.3 per cent positive rental reversion.
It singled out New Tech Park as the &ldquo crown jewel&rdquo for its &ldquo sterling&rdquo Q3 performance. The business park&rsquo s occupancy rate hit a 12-year high of 94.7 per cent as at Sep 30, up from 86 per cent as at Jun 30.
&ldquo Every quarter since Q1 2024, New Tech Park&rsquo s occupancy rate has consistently outperformed that of the business park segment reported by JTC,&rdquo the manager noted.
&ldquo In spite of the prevailing benign conditions of Singapore business parks, New Tech Park&rsquo s strong performance has bucked the trend, with occupancy outperforming the islandwide average.&rdquo
The manager also said that 24 new and renewed leases concluded in Q3, totalling 333,182 square feet. In addition, all of the leases expiring in 2025 have been addressed, with 79.5 per cent renewed or replaced.
For the period, the Reit&rsquo s weighted average lease expiry by gross rental income stood at 2.8 years.
Its aggregate leverage was 38 per cent, compared with 37.7 per cent as at Jun 30. The weighted average debt maturity fell to 2.2 years, from 2.4 years in the previous quarter.
Besides the fantastic results with increased DPU, seem like something is brewing now...
Suspect internal buy up....hope there are some internal price war to show the true value of the Company...
My 1st target $0.50
Suspect internal buy up....hope there are some internal price war to show the true value of the Company...
My 1st target $0.50
1.01 cents dividend is already 2.34% yield based on today closing price of 43 cents..good return....
b888sg ( Date: 22-Oct-2025 20:25) Posted:
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Sabana Reit&rsquo s Q3 income available for DPU up 38.4% at S$0.0101 on higher occupancy at New Tech Park
Revenue rises 5.3% year on year to S$29.9 million net property income climbs 16% to S$16.9 million
Another way of doing the maths is that the price ESR paid over the years to buy the manager and property manager was over $40m. We shareholders are now getting this value through the internationalisation, for which we paid the internalisation costs. Even allowing for further costs that is like a 3x return on investment. What a great deal! And this calculation does not even represent the main benefit to us, which is the improvement in alignment of interests which is worth so much more.