The REIT will undergo internalisation without the involvement of a sponsor.
Sabana Industrial REIT has recommended Chew Tuan Chiong, Chun Ming Jimmy Chan, and Sandip Talukdar as director candidates for the REIT once it becomes internally managed without a sponsor.
Unitholders of the REIT questioned the trustee's decision as conflicts related to the candidates emerged.
Chew has been cited to be in favor of an external manager model which conflicts with the REIT's transition into an internally managed REIT.
The trustee, however, said that Chew's experience and track record in managing and overseeing REITs was considered to meet the criteria set for the search process.
"Dr. Chew showed an open-mindedness towards an internalised management model, given precedents in other jurisdictions where internalised REITs have been successful," the trustee said.
The unitholders also raised concerns regarding Chan's investigation by the Hong Kong Securities and Exchange Commission (HK SFC) when his company, Maxsen Capital, promoted itself as carrying on regulated activities in Hong Kong for about six years when the regulator did not give them the approval to do so.
Chan resigned from Maxsen Capital during the investigation in 2016 and was not reprimanded for his actions.
The trustee cited Chan's response to HK SFC's investigation stating that "Maxsen Group made regulatory submissions and amendments to its website to better reflect the group's business and scope of services.
Following Maxsen's submissions, and considering all the circumstances in this case, the HK SFC concluded that no formal enforcement action was necessary and that the HK SFC did not propose to take any further action against Maxsen."
Meanwhile, the unitholders questioned Talukdar's ability to contribute positively to the REIT following his dismal performance as LMIRT's director where the share price lost 90% of its value during his tenure.
Talukdar responded by stating that he met the criteria set by the trustee. "Unitholders should refer to the complete detailed experience outlined in the Circular when making a decision," Talukdar said.
The REIT will hold an extraordinary general meeting (EGM) at Hope@New Tech Park on Friday, 18 October at 10:10 am.
房地产投资信托基金将在没有赞助商参与的情况下进行内部化。
胜宝工业信托已推荐Chew Tuan Chiong、Chun Ming Jimmy Chan和Sandip Talukdar作为房地产投资信托基金内部管理但没有保荐人的董事候选人。
随着与候选人有关的冲突的出现，房地产投资信托基金的单位持有人质疑受托人的决定。
据称，Chew赞成外部经理人模式，这与房地产投资信托基金向内部管理的房地产投资信托基金的过渡相冲突。
但是，受托人表示，Chew在管理和监督房地产投资信托基金方面的经验和往绩被认为符合搜索过程的标准。
受托人说：“鉴于内部化房地产投资信托基金在其他司法管辖区取得成功的先例，周博士对内部化管理模式表现出开放的态度。”
基金单位持有人还对香港证券交易委员会（Hk SFC）对陈的调查表示担忧，当时他的公司Maxsen Capital宣称自己在香港从事受监管活动约六年，但监管机构没有批准他们这样做。
Chan陈在2016年调查期间辞去了Maxsen Capital的职务，他的行为没有受到谴责。
受托人引用了陈对香港证监会调查的回应，他说：“Maxsen集团提交了监管文件并对其网站进行了修改，以更好地反映该集团的业务和服务范围。
根据Maxsen的陈述，考虑到本案的所有情况，香港证监会得出结论，没有必要采取正式的执法行动，香港证监会也没有打算对Maxsen采取任何进一步行动。”
同时，单位持有人质疑塔鲁克达尔是否有能力为房地产投资信托基金做出积极贡献，此前他在担任LMIRT董事时表现不佳，股价在任职期间下跌了90％的价值。
塔鲁克达尔回应说，他符合受托人设定的标准。塔鲁克达尔说：“单位持有人在做出决定时应参考通告中概述的完整详细经验。”
房地产投资信托基金将于10月18日星期五上午10点10分在Hope @New Tech Park举行特别股东大会（EGM）。
