In a Sept 21 announcement, the REIT manager pointed out that the REIT’s current liabilities exceeded its current assets by $117.9 million as at June 30. The REIT’s current liabilities and its subsidiaries have exceeded the group’s current assets by $133.2 million.
The units in EC World REIT (SGX:BWCU
) will remain suspended, says the REIT manager.
This is after the REIT’s trustee has determined that it is in the REIT’s unitholders’ best interests that the REIT’s units remain suspended.
