EC WORLD REAL ESTATE INVESTMENT TRUST EC WORLD REAL ESTATE INVESTMENT TRUST
(a real estate investment trust constituted on 5 August 2015 under the laws of the Republic of Singapore)
ANNOUNCEMENT ON ASSET VALUATION
Pursuant to Rule 703 of the Listing Manual, EC World Asset Management Pte. Ltd., in its capacity as manager of EC World Real Estate Investment Trust ("EC World REIT" and as manager of EC World REIT, the "Manager"), wishes to announce that it has obtained independent valuations, as of 30 June 2022, for all the seven properties owned by EC World REIT (the "Properties").
The mid-year 2022 valuations which were conducted by Jones Lang LaSalle Corporate Appraisal and Advisory Limited ("JLL") and Knight Frank Petty Limited ("KF") are set out in the table below.
Market Valuations | Market Valuations | Average of the 2 | |||||||||
Properties | by JLL | by KF | Market Valuations | ||||||||
As at 30 June 2022 | As at 30 June 2022 | As at 30 June 2022 | |||||||||
(million) | (million) | (million) | |||||||||
Chongxian Port Investment | RMB2,187 | RMB2,123 | RMB2,155 | ||||||||
(S$4551) | (S$4411) | (S$4481) | |||||||||
Chongxian Port Logistics | RMB833 | RMB797 | RMB815 | ||||||||
(S$1731) | (S$1661) | (S$1691) | |||||||||
Bei Gang Logistics Phase 1 | RMB1,238 | RMB1,178 | RMB1,208 | ||||||||
(S$2571) | (S$2451) | (S$2511) | |||||||||
Fu Heng Warehouse | RMB588 | RMB564 | RMB576 | ||||||||
(S$1221) | (S$1171) | (S$1201) | |||||||||
Hengde Logistics | RMB1,375 | RMB1,367 | RMB1,371 | ||||||||
(S$2861) | (S$2841) | (S$2851) | |||||||||
Wuhan Meiluote | RMB174 | RMB177 | RMB176 | ||||||||
(S$361) | (S$371) | (S$371) | |||||||||
Fuzhou E-Commerce | RMB1,251 | RMB1,191 | RMB1,221 | ||||||||
(S$2601) | (S$2481) | (S$2541) | |||||||||
Total Portfolio | RMB7,646 | RMB7,397 | RMB7,522 | ||||||||
(S$1,5891) | (S$1,5381) | (S$1,5641) | |||||||||
EC World Asset Management Pte Ltd | 6 Shenton Way |
运通网城资产管理私人有限公司 | #41-03 OUE Downtown 1 |
(Reg. No. 201523015N) | Singapore 068809 |
Tel: +65 6221 9018 |
Note:
1. Based on exchange rate of 0.2079 SGD/RMB as at 30 June 2022.The figures are rounded up to nearest million.
The valuation reports for the Properties are available for inspection at the Manager's registered office at 6 Shenton Way, #41-03, OUE Downtown 1, Singapore 068809, during normal business hours for a period of three months from the date of this announcement. Prior appointment with the Manager would be appreciated.
For and on behalf of the Board
Goh Toh Sim
Executive Director and Chief Executive Officer
EC World Asset Management Pte. Ltd.
(Company Registration No. 201523015N)
As manager of EC World Real Estate Investment Trust
11 August 2022
IMPORTANT NOTICE
The value of the Units and the income derived from them may fall as well as rise. The Units are not obligations of, deposits in, or guaranteed by the Manager, DBS Trustee Limited (as trustee of EC World REIT), or any of their respective affiliates.
An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Unitholders have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
Unitholders and potential investors are advised to exercise caution when dealing in units of EC World REIT. Unitholders and potential investors are advised to read this announcement and any further announcements to be released by EC World REIT carefully. Unitholders and potential investors should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.
This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Units.
EC World Asset Management Pte Ltd | 6 Shenton Way |
运通网城资产管理私人有限公司 | #41-03 OUE Downtown 1 |
(Reg. No. 201523015N) | Singapore 068809 |
Tel: +65 6221 9018 |
This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of EC World REIT. The forecast financial performance of EC World REIT is not guaranteed. A potential investor is cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.
EC World Asset Management Pte Ltd | 6 Shenton Way |
运通网城资产管理私人有限公司 | #41-03 OUE Downtown 1 |
(Reg. No. 201523015N) | Singapore 068809 |
Tel: +65 6221 9018 |
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EC World Real Estate Investment Trust published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 10:43:17 UTC.
