Eagle Hospitality Trust trustee proposes SCCPRE Hospitality REIT Management as new REIT manager

DBS Trustee Limited, the trustee of Eagle Hospitality Trust (EHT), has confirmed it will remove the manager for Eagle Hospitality REIT, in compliance with the directive issued by the Monetary Authority of Singapore (MAS) on Nov 30.

See: MAS moves to oust the manager of Eagle Hospitality Trust and MAS orders removal of Eagle Hospitality REIT manager

According to the statement issued on Dec 1, DBS Trustee acknowledged that the removal of the current manager will serve the interests of EHT’s stapled securityholders as the present circumstances of EHT requires that “any recapitalisation and restructuring proposal be presented” to the stapled securityholders as soon as possible.