EC World REIT

EC World REIT

Postby winston » Fri Jul 03, 2020 9:29 am

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Company Profile:

EC World Real Estate Investment Trust (EC World REIT) is a Singapore-based real estate investment trust (REIT).

The Company invests in a portfolio of real estate, which is used primarily for e-commerce, supply-chain management and logistics purposes, as well as real estate-related assets, with a geographical focus on the People's Republic of China (PRC).

It segments include Port logistics, Specialised logistics and E-commerce logistics.

Its properties include Fu Heng Warehouse, Stage 1 Properties of Bei Gang Logistics, Wuhan Meiluote, Hengde Logistics, Chongxian Port Investment, Chongxian Port Logistics, Fu Zhuo Industrial and Fuzhou E-Commerce.

The Company's manager is EC World Asset Management Pte. Ltd.
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Re: EC World REIT

Postby winston » Fri Jul 03, 2020 9:32 am

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C World REIT – Income Visibility From Master Leases
Date: 15/05/2020

Source: PHILLIP CAPITAL
Price Target : 0.77
Price Call: BUY

1Q20 revenue and DPU came in 18.2% and 26.7% below our forecasts due to the one-off RMB23.7mn (S$4.6mn) rental rebates given to tenants, and 5% retention of distributable income, excluding which, revenue and DPU would have been in line with estimates.

High income visibility due to portfolio occupancy of 99.1% and WALE of 3.8 years.

Maintain BUY with lower TP of S$0.77. Our TP translates to a FY20e DPU yield of 8.2%.

Source: Phillips

https://sgx.i3investor.com/servlets/ptres/14304.jsp
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Re: EC World REIT

Postby winston » Fri Jul 03, 2020 9:35 am

July 2 (Reuters) - Ec World Real Estate Investment Trust

* RECEIVED A LETTER DATED 30 JUNE FROM COMMERCIAL AFFAIRS DEPARTMENT AND MAS

* LETTER SEEKS MANAGER PROVIDE CERTAIN INFORMATION, DOCUMENTS & ELECTRONIC DEVICES IN RELATION TO INVESTIGATION

* INVESTIGATION IS INTO AN OFFENCE UNDER SECURITIES AND FUTURES ACT, CHAPTER 289

* CHIEF INVESTMENT OFFICER OF MANAGER HAS BEEN INTERVIEWED BY CAD IN CONNECTION WITH INVESTIGATION

* CHIEF INVESTMENT OFFICER'S REQUEST FOR LEAVE OF ABSENCE ACCEPTED, TO REVIEW HIS APPOINTMENT LATER

* MANAGER INTENDS TO FULLY COOPERATE WITH CAD AND MAS IN THEIR INVESTIGATION

* CAD INDICATES THAT EC WORLD REIT AND MANAGER ARE NOT UNDER INVESTIGATION

* BUSINESS AND OPERATIONS OF EC WORLD REIT HAVE NOT BEEN AFFECTED BY INVESTIGATION

Source: Reuters
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Re: EC World REIT

Postby winston » Fri Jul 03, 2020 9:57 am

INVESTIGATION BY COMMERCIAL AFFAIRS DEPARTMENT AND THE MONETARY AUTHORITY
OF SINGAPORE


https://links.sgx.com/FileOpen/ECWReit- ... eID=622382
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Re: EC World REIT

Postby winston » Fri Jul 03, 2020 1:40 pm

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FY 2019 Slides

Revenue: +3%
WALE 3.8 years
Leverage 38.6%

https://links.sgx.com/FileOpen/ECWREIT- ... eID=616990
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Re: EC World REIT

Postby winston » Fri Jul 03, 2020 2:28 pm

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Chief investment officer of manager of EC World REIT under CAD and MAS probe

by Felicia Tan

SINGAPORE (July 2): The chief investment officer of the manager of EC World REIT (ECW REIT), Li Jinbo, is under probe by the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS).

Li received a letter on June 30 to provide certain information, documents, and electronic devices in relation to an offence under the Securities and Futures Act (Chapter 289).

Li has been interviewed by the CAD in connection with the investigation.

According to a statement by EC World REIT, the Nominating and Remuneration Committee of the manager has accepted Li’s request for leave of absence pending outcome of the matter and will review his appointment when there is sufficient information available.

CAD indicates that EC World REIT and the manager of the REIT are not under investigation.

Source: The Edge

https://www.theedgesingapore.com/news/m ... er-cad-and
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Re: EC World REIT

Postby winston » Fri Jul 03, 2020 3:34 pm

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EC World REIT reports 23% decline in DPU due to rental rebates

BY SHARIFFA AL-HABSHEE

MAY 13, 2020

Chinese e-commerce logistics-focused REIT, EC World REIT, has reported a distribution per unit (DPU) of 1.158 cents for the quarter ended 31 March 2020.

This is a 22.9% decline year-on-year, and it is largely due to COVID-19-related rental rebates provided to tenants in March 2020, said the Singapore-listed REIT.

DPU would have been 1.529 cents without the rental rebates, EC World REIT added.

EC World REIT has provisioned rental rebates amounting to approximately RMB23.7 million (USD3.2 million) for tenants affected by COVID-19-related closures.

As a result, gross revenue and net property income declined by 1.4% and 0.2% to SGD23.5 million (USD16.2 million) and SGD21.1 million respectively.

As at 31 March 2020, occupancy rate was at 99.1% with a weighted average lease expiry (WALE) of 3.0 years by net lettable area.

The REIT’s aggregate leverage was 38.6% with a blended running interest rate of 4.3%.

Source: REITS Week

https://www.reitsweek.com/2020/05/ec-wo ... bates.html
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Re: EC World REIT

Postby winston » Fri Jul 03, 2020 3:36 pm

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EC World REIT sees resignation of another senior management team member

BY SHARIFFA AL-HABSHEE

DECEMBER 26, 2019

EC World REIT is witnessing the departure of yet another member in its senior management team.

The REIT disclosed on 26 December that Tng Chin Hwee, 51, who served as the REIT’s chief financial officer (CFO) since January 2017, is stepping down.

His last day with the REIT will be 31 December 2019, and he is leaving the organisation to pursue personal interests, the manager added.

Tng’s departure is the latest in a series of senior leadership changes that have occured at EC World REIT’s manager since its listing.

Source: REITS WEEK

https://www.reitsweek.com/2019/12/ec-wo ... ember.html
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Re: EC World REIT

Postby behappyalways » Fri Oct 16, 2020 2:20 pm

EC World REIT secures and renews two major leases in China
https://www.theedgesingapore.com/news/r ... ases-china
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Re: EC World REIT

Postby behappyalways » Tue May 18, 2021 3:57 pm

EC World REIT announces potential divestment of properties to consortium of purchasers
https://www.theedgesingapore.com/news/r ... purchasers
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