Alpha Integrated RE    Last:0.48   -

SABANA REIT

Trustee + ESR holding a substantial stake = very big obstacle ..
With these 2 around, I think the internalisation may take YEARS and by then, I think gone case liao

I think either the rest of ths shareholders try to buy over ESR stake 
OR Try to get ESR to offer a good enough price say 45 cents (at discount to NTA of 62 cents) for the shareholders to exit and switch
to other better reits.

I think internalisation is a slow death for shareholders with Trustee and ESR as SSH trying to make things
difficult all the way 

sangsang1      ( Date: 13-Oct-2024 20:06) Posted: https://sabana.listedcompany.com/newsroom/20241013_095130_M1GU_YA0N17H8ZQ2BUNJ2.1.pdf From the Q& A and circular, definitely voting a big Against to the trustee directors resolution. Against resolutions 7a, 7b and 7b 1 director already say he doesnt support internalisation and support sponsor model another director kenna investigated by Hong Kong Exchange Commission for saying in his company website that it is regulated by it is no another director was director at lippo malls and recommend shareholders to buy Puri Mall from the sponsor and do rights and crash the share price by 90%    so have to vote No la to all 3 of them. will be a nightmare if they get voted in and collect money from us. from the quality of the trustee directors, now we know why trustee take so long to finish internalisation.. even simple task, they can' t do properly

 

https://sabana.listedcompany.com/newsroom/20241013_095130_M1GU_YA0N17H8ZQ2BUNJ2.1.pdf

From the Q& A and circular, definitely voting a big Against to the trustee directors resolution. Against resolutions 7a, 7b and 7b

1 director already say he doesnt support internalisation and support sponsor model
another director kenna investigated by Hong Kong Exchange Commission for saying in his company website that it is regulated by it is no
another director was director at lippo malls and recommend shareholders to buy Puri Mall from the sponsor and do rights and crash the share price by 90%   

so have to vote No la to all 3 of them. will be a nightmare if they get voted in and collect money from us.

from the quality of the trustee directors, now we know why trustee take so long to finish internalisation.. even simple task, they can' t do properly 
 

 

What is the cost of this new management team to Sabana ? Will it be alot higher than the present one 🤔

 

Mr. Doshi is an experienced corporate finance and investment professional. 

I vote against Mr Doshi.. because i dont want another Lehman Moment ..

sangsang1      ( Date: 11-Oct-2024 19:26) Posted: Mr. Duttwiler is the Group CFO and member of the board of directors of Volare Group AG, a privately held company headquartered in Switzerland. Volare Group is a diversified industrial holding with its legacy in fuels trading and distribution. Other investments of Volare Group include bitumen production, road maintenance, construction as well as wood processing and furniture manufacturing. Volare Group also owns and manages a significant domestic and international real estate portfolio. Through its investment division, Volare Group holds financial investments in several listed companies in Switzerland and abroad. Mr. Duttwiler has served in his leadership position for more than 20 years and was instrumental in driving the growth of the Volare Group based on his strong financial expertise and management skills. Outside of Volare Group, Mr. Duttwiler serves as the board member for several privately held companies in Switzerland in the logistics and wholesale domain. Mr. Duttwiler started his career as a public accountant with PwC where he worked for nine years in the audit practice, serving large multinational companies. During his time with PwC, he was based in Zurich and Boston. Mr. Duttwiler holds a Diploma from FHNW School of Business and is a chartered accountant with a federal diploma of public accounting. https://www.youtube.com/watch?v=Auqe3UxEpmY& t=163s Mr. Lim has more than two decades of consulting, engineering design and project management experience in implementing electrical, mechanical and control systems for industrial facilities. He worked at Mckeeson Consultants (subsidiary of Delfi Limited) from 2006 to 2013 and managed various complex EPC projects for industrial plants in Brazil and Malaysia. Prior to that, Mr Lim worked at Emerson Process Management and M.E.I. Project Engineers and was responsible for design, implementation, testing and commissioning work for electrical, instrumental, fire safety, and control systems for industrial plants in China, Singapore, Bangladesh, Malaysia and Indonesia for MNCs such as Du Pont, Castrol, Exxon and BASF. Previously, he worked at De Zaan Far East (now Olam Cocoa), MCC Powers Harts Automation and Honeywell, also in the EPC and implementation of building management and fire safety systems for commercial and industrial building. Mr. Lim is a champion of sustainability and looks forward to using his expertise to implement sustainability solutions to further reducing the energy, greenhouse gas (&ldquo GHG&rdquo ) emissions, water and waste of the portfolio to the benefit Sabana&rsquo s unitholders and tenants.  Mr. Doshi is an experienced corporate finance and investment professional. He began his investment banking career in New York at Lehman Brothers and later Barclays Capital, advising financial sponsors and corporations on M& A and leveraged finance transactions in various sectors including real estate, industrials and healthcare. His investing career began at Ares Management in Los Angeles, an alternative asset manager with more than US$350 billion in assets under management, where he invested in high yield and distressed debt in the retail, chemicals and mining sectors. Mr. Doshi is currently an investment director at One Hill Capital, a private investment company headquartered in Singapore, where he directs investment strategy and research. He has served on boards of companies with a regional and global presence in the logistics and consumer products sectors. He graduated from Stern School of Business, New York University with a degree in Finance and Actuarial Science Mr. Jan Frederic Moermann Mr. Jan Frederic Moermann is the Founder and CEO of Quarz Capital ASIA, a value oriented and research-driven asset manager that focuses on investing in undervalued real estate companies with a special focus on real estate in developed Asia. The firm acquires significant minority ownership positions in public real estate companies mainly in developed Asia and seeks to maximize their long-term potential through constructive engagement. Prior to founding Quarz Capital in 2011, Mr. Moermann worked for UBS, Credit Suisse and LGT in Germany, Switzerland and Hong Kong. He subsequently joined the Investment Banking Division of Bellevue Group where he advised corporations on M& A, and capital markets activities in the Swiss and European markets. Mr. Moermann serves as the board member for several privately held companies in Switzerland in the real estate, FinTech and technology domain. Mr. Moermann graduated with a Master in Banking and Finance as well as a Bachelor in Business Administration from the University of St. Gallen in Switzerland. Mr. Moermann has more than 15 years of real estate, asset management, investing and leadership experience, especially in Singapore, Japan and Australia. He is a strong proponent of corporate governance and unitholders&rsquo rights. Mr. Saha has more than 20 years of experience in the HR industry. At Pan Asia Resources, he worked with the Big Four consulting firms, fulfilling their requirements for senior IT personnel. At ATS Global, he managed the inside sales team across APAC and worked hand-in hand with the global management team in client acquisition. Together with his team, Mr. Saha serviced the manufacturing industry for automation and digital transformation products. Prior to ATS, he worked in a number of HR specialist firms such as Charterhouse Resources, Excalibur Consulting, Kelly Services and Optimum Solutions. There, he was responsible for managing teams that secured and fulfilled staffing as well as outsourcing services to MNCs such as Citigroup, Deutsche Bank, Standard Chartered Bank, and DBS. Mr. Saha has a keen interest in corporate governance and making sure that the rights of all shareholders, regardless of how large or small, are protected. He looks forward to contributing his expertise in the renumeration and staffing of the Internal Manager. Mr. Saha graduated from the Maharaja Sayajirao University, Baroda, India, with a Bachelor of Engineering (Chemical).    Mr. Chi is a Director and Head of Investments at Quarz Capital ASIA, an Asia-focused asset manager with a successful track record of investing in undervalued real estate companies including REITs across developed Asia. Mr. Chi leads the investment team at Quarz, which focuses on investing and increasing shareholder value through improvements in corporate governance, shareholders&rsquo rights and capital allocation. Prior to Quarz, Mr. Chi was a Portfolio Manager at Bellevue Group in Zurich, Switzerland where he managed investments in Asia Ex-Japan and Africa. Mr. Chi graduated with a Master in Banking and Finance from the University of St. Gallen in Switzerland and has a Bachelor of Science in Economics from the National University of Singapore. Mr. Chi has more than 15 years of experience in asset management and real estate investing, especially in Singapore, Japan, Hong Kong and Australia. He is a CFA Charterholder, a member of the Singapore Institute of Directors (SID) and a strong proponent of corporate governance and unitholders&rsquo rights.

 

Mr. Duttwiler is the Group CFO and member of the board of directors of Volare Group AG, a privately held company headquartered in Switzerland. Volare Group is a diversified industrial holding with its legacy in fuels trading and distribution. Other investments of Volare Group include bitumen production, road maintenance, construction as well as wood processing and furniture manufacturing. Volare Group also owns and manages a significant domestic and international real estate portfolio. Through its investment division, Volare Group holds financial investments in several listed companies in Switzerland and abroad. Mr. Duttwiler has served in his leadership position for more than 20 years and was instrumental in driving the growth of the Volare Group based on his strong financial expertise and management skills. Outside of Volare Group, Mr. Duttwiler serves as the board member for several privately held companies in Switzerland in the logistics and wholesale domain. Mr. Duttwiler started his career as a public accountant with PwC where he worked for nine years in the audit practice, serving large multinational companies. During his time with PwC, he was based in Zurich and Boston. Mr. Duttwiler holds a Diploma from FHNW School of Business and is a chartered accountant with a federal diploma of public accounting.
https://www.youtube.com/watch?v=Auqe3UxEpmY& t=163s

Mr. Lim has more than two decades of consulting, engineering design and project management experience in implementing electrical, mechanical and control systems for industrial facilities. He worked at Mckeeson Consultants (subsidiary of Delfi Limited) from 2006 to 2013 and managed various complex EPC projects for industrial plants in Brazil and Malaysia. Prior to that, Mr Lim worked at Emerson Process Management and M.E.I. Project Engineers and was responsible for design, implementation, testing and commissioning work for electrical, instrumental, fire safety, and control systems for industrial plants in China, Singapore, Bangladesh, Malaysia and Indonesia for MNCs such as Du Pont, Castrol, Exxon and BASF. Previously, he worked at De Zaan Far East (now Olam Cocoa), MCC Powers Harts Automation and Honeywell, also in the EPC and implementation of building management and fire safety systems for commercial and industrial building. Mr. Lim is a champion of sustainability and looks forward to using his expertise to implement sustainability solutions to further reducing the energy, greenhouse gas (&ldquo GHG&rdquo ) emissions, water and waste of the portfolio to the benefit Sabana&rsquo s unitholders and tenants. 

Mr. Doshi is an experienced corporate finance and investment professional. He began his investment banking career in New York at Lehman Brothers and later Barclays Capital, advising financial sponsors and corporations on M& A and leveraged finance transactions in various sectors including real estate, industrials and healthcare. His investing career began at Ares Management in Los Angeles, an alternative asset manager with more than US$350 billion in assets under management, where he invested in high yield and distressed debt in the retail, chemicals and mining sectors. Mr. Doshi is currently an investment director at One Hill Capital, a private investment company headquartered in Singapore, where he directs investment strategy and research. He has served on boards of companies with a regional and global presence in the logistics and consumer products sectors. He graduated from Stern School of Business, New York University with a degree in Finance and Actuarial Science

Mr. Jan Frederic Moermann Mr. Jan Frederic Moermann is the Founder and CEO of Quarz Capital ASIA, a value oriented and research-driven asset manager that focuses on investing in undervalued real estate companies with a special focus on real estate in developed Asia. The firm acquires significant minority ownership positions in public real estate companies mainly in developed Asia and seeks to maximize their long-term potential through constructive engagement. Prior to founding Quarz Capital in 2011, Mr. Moermann worked for UBS, Credit Suisse and LGT in Germany, Switzerland and Hong Kong. He subsequently joined the Investment Banking Division of Bellevue Group where he advised corporations on M& A, and capital markets activities in the Swiss and European markets. Mr. Moermann serves as the board member for several privately held companies in Switzerland in the real estate, FinTech and technology domain. Mr. Moermann graduated with a Master in Banking and Finance as well as a Bachelor in Business Administration from the University of St. Gallen in Switzerland. Mr. Moermann has more than 15 years of real estate, asset management, investing and leadership experience, especially in Singapore, Japan and Australia. He is a strong proponent of corporate governance and unitholders&rsquo rights.

Mr. Saha has more than 20 years of experience in the HR industry. At Pan Asia Resources, he worked with the Big Four consulting firms, fulfilling their requirements for senior IT personnel. At ATS Global, he managed the inside sales team across APAC and worked hand-in hand with the global management team in client acquisition. Together with his team, Mr. Saha serviced the manufacturing industry for automation and digital transformation products. Prior to ATS, he worked in a number of HR specialist firms such as Charterhouse Resources, Excalibur Consulting, Kelly Services and Optimum Solutions. There, he was responsible for managing teams that secured and fulfilled staffing as well as outsourcing services to MNCs such as Citigroup, Deutsche Bank, Standard Chartered Bank, and DBS. Mr. Saha has a keen interest in corporate governance and making sure that the rights of all shareholders, regardless of how large or small, are protected. He looks forward to contributing his expertise in the renumeration and staffing of the Internal Manager. Mr. Saha graduated from the Maharaja Sayajirao University, Baroda, India, with a Bachelor of Engineering (Chemical). 

  Mr. Chi is a Director and Head of Investments at Quarz Capital ASIA, an Asia-focused asset manager with a successful track record of investing in undervalued real estate companies including REITs across developed Asia. Mr. Chi leads the investment team at Quarz, which focuses on investing and increasing shareholder value through improvements in corporate governance, shareholders&rsquo rights and capital allocation. Prior to Quarz, Mr. Chi was a Portfolio Manager at Bellevue Group in Zurich, Switzerland where he managed investments in Asia Ex-Japan and Africa. Mr. Chi graduated with a Master in Banking and Finance from the University of St. Gallen in Switzerland and has a Bachelor of Science in Economics from the National University of Singapore. Mr. Chi has more than 15 years of experience in asset management and real estate investing, especially in Singapore, Japan, Hong Kong and Australia. He is a CFA Charterholder, a member of the Singapore Institute of Directors (SID) and a strong proponent of corporate governance and unitholders&rsquo rights.


 

 

From Circular: 
Konrad Duttwiler is CFO of Volare Group  https://volare-group.com/en/
Umesh Doshi is director of One Hill Capital, a single family office headquartered in Singapore  https://onehillcapital.com/
Lim Hock Chuan background is in industrial facility projects
Anshuman background is HR
Jan Moermann and havard chi from Quarzt strong in investing and fund management   
IMO a diverse team with interesting skillset

luckyplate      ( Date: 11-Oct-2024 13:50) Posted: Directors List who can work favourably in the internalisation ... Lim Hock Chuan Vote ok . Umesh Doshi?? investment Professional who work in lehman bro before.. Not sure...  Konrad Dutti?? member for volare Group  Jan Frederic..representative for quartz  saha Anshuman?? From HR  .. Not sure ..  Havard chi ..representative for quartz luckyplate      ( Date: 11-Oct-2024 13:30) Posted: Directors List who can perform ... Lim Hock Chuan vote ok. Umesh Doshi?? Konrad Dutti?? Jan Frederic..ok. saha Anshuman?? Havard chi ..vote ok

 

Received this from savesabanareit :
 

VOTE FOR Resolutions 1 &ndash 6 at the 18 Oct 2024 Sabana REIT EGM to Approve Unitholders' proposed Directors who will work hard to improve unit price, DPU and corporate governance for all Sabana REIT unitholders!

 

  Dear fellow Sabana unitholders, 

We are finally near the end of the internalisation process! To expedite the internalisation process, unitholders have proposed the director candidates listed in Resolutions 1-6 who are fully committed to support the Trustee to complete the internalisation process and increase the DPU, unit price and corporate governance at Sabana REIT.   

The proposed candidates have substantial experience relevant to Sabana REIT such as investing, audit, accounting, HR, mechanical engineering, buildings facilities implementation, finance and real estate (please refer to the attached document)   

All the proposed candidates are long-term Sabana unitholders.   

The proposed directors have also committed to: 

• 
  
  Receive one of the lowest director fees among S-REITs                                                               

• 
  
  Receive at least 25% of the director fees in Sabana units                                                       

• 
  
  Maintain a meaningful stake in Sabana REIT during the director' s tenure       

                                                                                                                                                                                                                   

These commitments ensure that when the directors do well in their work, similar to all unitholders, they will be rewarded by the appreciation in Sabana REIT' s unit price and DPU. 

If elected by unitholders as board members, the following proposals will be tabled for discussion: 

Stabilise DPU 

The money spent for internalization should be returned to unitholders by topping up DPU to a minimum of 3.05 cents per annum (as soon as the new board will approve this proposal). This will result in a dividend yield of 8.5% / 7.3% at Sabana&rsquo s unit price of S$0.36 / S$0.42. 

Grow DPU   

As every 1% increase in occupancy rate at 151 Lorong Chuan (NTP) can increase DPU by 1%, the board will prioritise improving the occupancy rate of NTP. These plans will be shared with the management team ASAP to increase DPU for unitholders. 

As NTP also has untapped GFA of around 200,000 sqft, the proposed directors will focus on finding a potential tenant to pre commit and start the project as soon as possible. This project can potentially lift DPU by more than 15%. 

Being a smaller REIT also means that every successful project can will have a more significant impact on DPU. If the directors are elected, the aim is to make Sabana a &ldquo smarter REIT&rdquo &ndash instead of buying stabilized assets at full value, the proposed directors will aim to find undervalued investment where the future gains in value and DPU will be shared with all unitholders. The proposed candidates have substantial experience and successful track records in 1) identifying undervalued investments, 2) investing in them and 3) increasing the investment&rsquo s value for the benefit of investors. The proposed directors aim to do this at Sabana REIT to benefit all unitholders.   

Sabana is the first unitholder-driven internalised REIT. The proposed directors are fully motivated to make this a huge success! 

 

We seek all unitholders support to VOTE FOR Resolutions 1-6 to approve the proposed directors who will fully focus on improving the unit price and DPU of Sabana REIT! 

 

How To Vote at Sabana REIT 18 October 2024 EGM 

Please find below the instructions on how to vote at Sabana REIT' s 18 October 2024 EGM 

The Proxy Form is attached:   

https://sabana.listedcompany.com/newsroom/20241003_073509_M1GU_46XVLGBM9352A1I4.2.pdf 

CDP (please refer to graphic below) 

 

1) Please fill in your full name, NRIC or passport (foreign unitholders), and address (provided to CDP).   

2) Leave this area (explanations in red) empty unless you want to appoint proxies to the EGM. Do not fill it if you want to attend the EGM.   

3) Tick the FOR boxes if you want to VOTE FOR Resolutions 1 to 6.   

4) Write date and month and sign.   

 

Please leave the box saying " Total Number of Units Held" empty if you do not know how many units you own (Boardroom will assume you are voting with all your units)       

Scan and send it by email (before Tuesday 15 October 2024 at 10:30 am) to:   

[email protected]   

   

Send it by post (latest by Friday 11 October 2024 before 5pm) to: 

SABANA REAL ESTATE INVESTMENT MANAGEMENT PTE. LTD. 

(As Manager of Sabana Industrial Real Estate Investment Trust) 

c/o Boardroom Corporate & Advisory Services Pte. Ltd. 

1 Harbourfront Avenue #14-07 

Keppel Bay Tower 

Singapore 098632 

   

 

Custodian 

For Sabana unitholders who hold shares through Custodians (banks/brokerages), please contact them ASAP

(deadline: Friday 11 October 2024) 

   

 

Custodian Contact: 

Maybank    +65 6432 1888 

CIMB  +65 6538 9889 

UOB Kay Hian  +65 6536 9338 

Standard Chart  +65 6242 5333 

   

Please WhatsApp / contact us at: 9433 3898 or 

 

   

 

Directors List who can work favourably in the internalisation ...
Lim Hock Chuan Vote ok .
Umesh Doshi?? investment Professional who work in lehman bro before.. Not sure... 
Konrad Dutti?? member for volare Group 
Jan Frederic..representative for quartz 
saha Anshuman?? From HR  .. Not sure .. 
Havard chi ..representative for quartz

luckyplate      ( Date: 11-Oct-2024 13:30) Posted: Directors List who can perform ... Lim Hock Chuan vote ok. Umesh Doshi?? Konrad Dutti?? Jan Frederic..ok. saha Anshuman?? Havard chi ..vote ok. asianguy      ( Date: 09-Oct-2024 13:56) Posted: Just transfer all my shares in FSM to consolidate in CDP. Pls advise  besides the activist investor Quarz Capital& founder Jan Moermann and director Havard Chi, who else are in the same camp that we can vote in as director?

 

Directors List who can perform ...
Lim Hock Chuan vote ok.
Umesh Doshi??
Konrad Dutti??
Jan Frederic..ok.
saha Anshuman??
Havard chi ..vote ok.

asianguy      ( Date: 09-Oct-2024 13:56) Posted: Just transfer all my shares in FSM to consolidate in CDP. Pls advise  besides the activist investor Quarz Capital& founder Jan Moermann and director Havard Chi, who else are in the same camp that we can vote in as director?

 

Just transfer all my shares in FSM to consolidate in CDP. Pls advise  besides the activist investor Quarz Capital& founder Jan Moermann and director Havard Chi, who else are in the same camp that we can vote in as director?

 

Hope for some knowledgeabe guys will provide some good voting guides ?

 

All so quiet on the coming AGM on 18th Oct?!

 

Pl advise which are to be voted in?

 

 

 

 

 

 

Looks like it will be done by year end. The end is in sight.