Sabana REIT has not shown much improvement in its quarterly results which probably shows that the leasing environment for industrial properties remains challenging and that the management made a bad decision in purchasing a half vacant high tech industrial building from AMD in Chai Chee late last year. Overall occupancy for the REIT's property portfolio inched up from 90.6% to 90.8%. Things could get worse because 3 more master leases are expiring by end of this year while 11 master leases are expiring by end of next year. If what we saw late last year when 4 out of 5 master leases were not renewed should become the norm, Sabana REIT could see overall occupancy level declining much more and, consequently, we could see its distributable income lowering further. Already, we know that 1 out of 3 master leases expiring this year will not be renewed. Considering the fact that ......