In my earlier posts, I overestimated the management of sabana. They had make acquisitions that are yield accretive with decent yield of 6-7%. They have a performance fees structure that will only payout performance when DPU increase by 10%. If DPU increase 10%, I seriously do have problem with them claiming their due rewards. But alas, it’s quite obvious the management interest are not aligned with the minority shareholders and the capability is questionable too. First, a placement that dilute existing shareholders holding, to buy a half vacant AMD building. The results: Pathetic increase of about 3 million gross revenue income that is matched by 3 million increase in property expenses, due mainly to the fact that Chai Chee property is a multi-tenant lease and 5 other become multi-tenant when the master lease didn’t renew master lease. So it is very obvious that sabana is not able to exact good ......