Homepage
PR Newswire
09-02-2017, 06:22 AM
(This post was last modified: 09-02-2017, 06:24 AM by ACTIVIST SPEAKS.)
Agree with you.
Unfortunately, you do need a strong team with a CEO with at least 10 years experience before MAS will give him a CMS Licence to operate a REIT Manager. I know no one with a minimum 10 years experience will be willing to support 66 unitholders (with 0.6%) as a replacement team to takeover his friend, Kevin X in a very very remote possibility that we can remove the Sabana Manager. In 2005, Mapletree is the 6th REIT to be listed, which means there are very few people in Singapore who can run a REIT Manager. I know it and Kevin X knows it and that is why he is stressing that we do not have a replacement team. Again I believe when MAS allows 50 minority unitholders to convene a meeting to remove the manager, MAS had not intended for us to look for an alternative manager. MAS has just confirmed that the Trustee has the power to appoint the next Manager to Prof Koh and this is the way we always believe and this is how we are going to proceed after we can remove the manager. Simply, to try and assemble a REIT Manager (which involved at least 100 people) before removing the Sabana Manager is, for lack of a better word, stupid.
Unfortunately, you do need a strong team with a CEO with at least 10 years experience before MAS will give him a CMS Licence to operate a REIT Manager. I know no one with a minimum 10 years experience will be willing to support 66 unitholders (with 0.6%) as a replacement team to takeover his friend, Kevin X in a very very remote possibility that we can remove the Sabana Manager. In 2005, Mapletree is the 6th REIT to be listed, which means there are very few people in Singapore who can run a REIT Manager. I know it and Kevin X knows it and that is why he is stressing that we do not have a replacement team. Again I believe when MAS allows 50 minority unitholders to convene a meeting to remove the manager, MAS had not intended for us to look for an alternative manager. MAS has just confirmed that the Trustee has the power to appoint the next Manager to Prof Koh and this is the way we always believe and this is how we are going to proceed after we can remove the manager. Simply, to try and assemble a REIT Manager (which involved at least 100 people) before removing the Sabana Manager is, for lack of a better word, stupid.