The Monetary Authority of Singapore (MAS) has asked the trustee of Eagle Hospitality REIT, DBS Trustee Limited, to remove Eagle Hospitality REIT Management as the manager of the REIT.

The central bank has also asked DBS Trustee to appoint a new manager as soon as is practical.

The direction follows MAS’s notice of intention (NOI) issued on Oct 26 to direct DBS Trustee to remove Eagle Hospitality REIT’s current manager and to appoint a new one.

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