SINGAPORE (July 18): Li Jinbo, chief investment officer of EC World REIT, has resigned to take a “new job”, the REIT manager, EC World Asset Management said in a July 17 filing.
Just over a fortnight ago, on July 2, EC World REIT, which owns a portfolio of logistics assets in China, said that Li, 35, is being investigated by the Commercial Affairs Department and the Monetary Authority of Singapore, in relation to an offence under the Securities and Futures Act.
In the same July 2 announcement, the REIT manager said that Li had asked, and given, a leave for absence pending the outcome of the matter.
The REIT manager intends to fully cooperate with the CAD and MAS in their investigation.
“CAD indicates that EC World REIT and the Manager are not under investigation. The business and operations of EC World REIT have not been affected,” said EC World REIT.
Goh Toh Sim, CEO of the REIT manager, will continue to oversee and be involved in the investment and asset management functions.
