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SINGAPORE (THE BUSINESS TIMES) - The Monetary Authority of Singapore (MAS) confirmed on Sunday that the appeal from the shareholder of Eagle Hospitality Reit s (EH-Reit) manager regarding the directive on its removal has not been accepted. MAS earlier direction to DBS Trustee on Nov 30 remains in effect and the trustee is required to comply with the direction, said an MAS spokesperson. Mandarin West Holdings (MWH), the sole shareholder of EH-Reit s manager, had on Dec 10 filed an appeal to Finance Minister Heng Swee Keat against its removal. The directive from MAS dated Nov 30 instructed the trustee of EH-Reit to remove EH-Reit s manager within one month from the date of issuance of the directive, or such longer period that MAS may approve in writing, and appoint a new manager for EH-Reit.

Heng swee keatEagle hospitality businessMandarin west holdingsTrading in eagle hospitalityMonetary authority of singaporeMonetary authorityEagle hospitality reitMwest holdingsFinance minister heng swee keatReit managementFutures actEagle hospitality trustEagle hospitality business trustகழுகு விருந்தோம்பல் வணிகமாண்டரின் மேற்கு ஹோல்டிங்ஸ்வர்த்தக இல் கழுகு விருந்தோம்பல்