EC World Reit
EC World Reit Q3 net property income down 60.5%; illegally mortgaged units face 2 lawsuits
The Reit is suspended from trading, and it is unlikely to declare any distribution for FY2025
EC World Reit’s H1 net property income falls 60.3% to S$18.7 million
Revenue also declines 56% to S$22.6 million
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
Revenue down 49.9% to S$12.7 million from S$25.3 million
EC World Reit appoints new property managers, port operator
The contract terms for the appointments are for one year
EC World Reit’s Q4 net property income more than halves to S$11.2 million
Due to insufficient funds, the Reit will continue to suspend distributions until sufficient free cash is available
‘Wrong instructions’ by EC World Reit sponsor CEO led to illegal mortgages, says legal counsel
There is reasonable suspicion that the CEO and sponsor intentionally bypassed the relevant internal approval process, says Reit manager
EC World Reit H1 DPU down 18.6% to S$0.01671 on lower revenue, higher operating expenses
The manager says there will be no distribution for the period due to insufficient funds
Subsidiary, chairman of EC World Reit’s sponsor liable for US$11.3 million after loan default
The loan bore a principal amount of US$10 million for a term of six months
EC World Reit Q1 calculated DPU down 19.8% to S$0.00904 on lower revenue, higher financing cost
Distributable income fell 19.8% on year to S$8.1 million, from S$10.1 million the year before
EC World Reit posts calculated Q4 DPU of S$0.0069 as distributions stay suspended
EC WORLD Real Estate Investment Trust (Reit) reported a calculated distribution per unit (DPU) of S$0.0069 for the fourth quarter ended Dec 31, 2023, though its distributions remain suspended due to “...
