Sabana Reit manager appoints two directors

SINGAPORE (THE BUSINESS TIMES) - Sabana Real Estate Investment Management, the manager of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Reit), has appointed Yeo Wee Kiong and Willy Shee Ping Yah as independent and non-executive directors.

The appointments, with effect from Jan 1, require the endorsement of the independent unitholders of the Reit at the annual general meeting, said the Reit manager in a regulatory filing.

Mr Yeo has further been appointed the chairman of the nominating and remuneration committee and a member of the audit and risk committee. Mr Shee, also known as Shee Ping Yan, has been appointed a member of the nominating and remuneration committee.

The 65-year-old Mr Yeo holds directorships at several listed and private firms, including as an independent director of Bonvests Holdings since 1991.

Mr Shee stepped down as chairman of the Asian division of Richard Ellis/CBRE Group in mid-2016, having served the real estate services company for 40 years. The 72-year-old holds directorships at companies including Keppel Land and Sinamars Land.

These appointments come after independent director Ng Shin Ein resigned, following the proposed merger between ESR-Reit and Sabana Reit fell through in early December.

The Reit rose 1.4 per cent to S$0.355 at the closing bell on Thursday.

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