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.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook