A COMMITTEE formed by activist investor Quarz and other unitholders of (Sabana Reit) has sent an open letter to the regulatory authorities to seek guidance on the internalisation of the Reit’s manager.

The Sabana Growth Internalisation Committee (SGIC) on Tuesday (Dec 5) said it “urgently seeks guidance” from the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGXRegCo) on two legal questions.

The first is whether the Sabana Trustee is “wrong in its interpretation of the trust deed, and its position on how to proceed with internalisation”.