KGI maintains 'outperform' call after CAD interviews EC World Reit manager's CIO

Analyst Amirah Yusoff does not believe investigation into Li Jinbo has any relation to the Reit or its manager

Published Fri, Jul 3, 2020 · 09:50 PM

Singapore

KGI Securities on Friday maintained its "outperform" call on EC World Real Estate Investment Trust (EC World Reit), despite news that the chief investment officer (CIO) of its manager had been called up for an interview by the Commercial Affairs Department (CAD).

The Reit's manager had said in a bourse filing on Thursday that CIO Li Jinbo was interviewed in connection with an investigation into an offence under the Securities and Futures Act.

As part of the probe, the CAD and the Monetary Authority of Singapore (MAS) had also sent a letter dated June 30 seeking "certain information, documents and ele…