The Business Times
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EC World Reit

Companies & Markets

EC World Reit loses appeal over unauthorised mortgage of key Hangzhou property; manager to seek re-trial

Three of EC World Reit's properties were mortgaged without its consent or knowledge in November 2023.
Companies & Markets

EC World Reit granted more time until May 2026 to submit resumption proposal

Fuheng Warehouse (pictured) is one of the three properties owned by EC World Reit that were mortgaged without its consent or knowledge between Nov 20, 2023 and Nov 24, 2023.
Reits & Property

EC World Reit Q3 net property income down 60.5%; illegally mortgaged units face 2 lawsuits

EC World Reit’s significant fall in revenue and net property income was due largely to the termination of master lease agreements upon the lease expiry of several assets, including Fu Heng Warehouse (pictured) in Hangzhou.
Companies & Markets

EC World Reit’s H1 net property income falls 60.3% to S$18.7 million

The manager is actively exploring options to divest some or all of the group’s properties to pare down existing facilities with cash proceeds.
Companies & Markets

EC World Reit’s Q1 net property income more than halves to S$10.8 million as it looks to sell more assets to repay debt 

Fuheng Warehouse is a property in EC World Reit's portfolio.
Companies & Markets

EC World Reit appoints new property managers, port operator

EC World Reit attributes its lower operating performance to the expiry of master lease agreements, as well as the effect of the novation of underlying leases from master leases and related party leases, including for Fu Heng Warehouse (above).
Reits & Property

EC World Reit’s Q4 net property income more than halves to S$11.2 million

The unauthorised mortgage for Fu Heng Warehouse has been discharged.
Companies & Markets

‘Wrong instructions’ by EC World Reit sponsor CEO led to illegal mortgages, says legal counsel

EC World Reit reported an 8 per cent drop in gross revenue to S$51.2 million in H1, from S$55.7 million a year ago.
Companies & Markets

EC World Reit H1 DPU down 18.6% to S$0.01671 on lower revenue, higher operating expenses

Stage 1 Properties of Bei Gang Logistics, one of the largest e-commerce developments in the Yangtze River Delta in Shanghai, China, is among the properties in EC World Reit’s portfolio. A subsidiary of its sponsor has failed to repay a loan with a principal amount of US$10 million.
Companies & Markets

Subsidiary, chairman of EC World Reit’s sponsor liable for US$11.3 million after loan default

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