SINGAPORE (Apr 17): DBS Group Research is not overly worried about the local industrial REITs – AIM APAC REIT (AA REIT), Mapletree Logistics Trust (MLT) and Cache Logistics Trust (CacheLog Trust) – that have exposure to Hong Kong-listed CWT International (CWTI).
To recap, CWTI, controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced that it has failed to pay accrued interests and fees to lenders totalling HK$63 million ($10.9 million) which have become due and payable under a HK$1.4 billion facility.
