EC World Seeks to Sell Logistics Properties

News about EC World REIT

EC World REIT is seeking the approval of its shareholder to sell some of its assets, Stage 1 Properties of Bei Gang Logistics and Chongxian Port Logistics.

If approved by the unitholders of ECW (the “Unitholders), the Proposed Divestment will enable ECW to realise the value of the Divestment Properties and direct the majority of the divestment proceeds towards paring down at least 25% of the aggregate principal amount of the outstanding existing onshore and offshore loans (the “Existing ECW Loans”) which are due by 31 December 2022 – fulfilling a condition set by the existing lenders of ECW.

EC World REIT
Price0.435 SGD
NAV0.800 SGD
Yield (4 quarters)13.04%
Gearing39.3%