The Monetary Authority of Singapore is directing the trustee of Eagle Hospitality Real Estate Investment Trust to remove the REIT’s manager and to appoint a new manager.

This is in view of numerous breaches of the Securities and Futures Act by Eagle Hospitality REIT Management, manager of the scandal-fraught REIT since its IPO last May, and serious concerns over its ability to comply with rules and regulations.

See also: MAS and CAD arrest current and former directors and officers of EHT's managers

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