More nominee shareholders, accounts could be detrimental to investor protection

[SINGAPORE] The travails of Dasin Retail Trust (DRT) unitholders continue. From a unit price of around S$0.80 in 2020, the counter’s value has practically evaporated to a paltry S$0.02 as at Apr 21, 2025. The trust’s market capitalisation of around S$16 million is barely enough to buy a starter bungalow. 

Some of the loss in value is due to the regulatory clampdown on property financing in China, where DRT has a portfolio of retail malls, in the cities of Zhongshan, Zhuhai and Foshan. The trust also faced challenges, especially during the Covid-19 pandemic.

Minority investors have little reason to be drawn to DRT. Those looking for its financials will find that the latest available are the results for the six months ended Jun 30, 2023. Under the trustee-manager, Dasin Retail Trust Management, the last annual general meeting held was for FY2021.