Without the payment of the outstanding rent receivables from its sponsor group, the REIT says it may also have insufficient funds to maintain its operations. In particular, it may not be able to pay its interest expenses when they are due going forward.
The manager of EC World REIT says it will have to defer its 1HFY2023 ended June distribution to a “future date” due to “insufficient funds”.
The distribution of 2.053 cents per unit from the period from Jan 1 to June 30 was supposed to have been made on Sept 28.
