Dasin Retail Trust conducts independent business review to extend loan maturity dates

CHINA-FOCUSED real estate investment trust Dasin Retail Trust’s trustee-manager announced on Monday (Jan 9) that it has appointed FTI Consulting (Singapore) to conduct an independent business review of the trust and its subsidiaries.

It said that the purpose of the review is to assess and validate the financial position of the group.

“These findings will be used as a basis to progress loan extension discussions with the various lenders of the offshore facility 1, onshore facility 1, offshore facility 2, offshore facility 3 as announced on Jan 2, 2023,” the trustee-manager said.

On Jan 2, the trustee-manager announced that it was still in discussions with lenders to extend the loan maturity date to Apr 30, 2023, from Dec 31, 2022.

At the time, it said that while the discussions were drawn out, they were still progressing.

Dasin Retail Trust closed at S$0.26, down S$0.01 or 3.7 per cent on Monday, before the announcement was made.