EC World Real Estate Investment Trust : Incident At Chongxian Port Investment
TRUST EC WORLD REAL ESTATE INVESTMENT
(A real estate mutual fund established on August 5th, 2015 under the laws of
the Republic of Singapore)
INCIDENT IN INVESTMENT IN CHONGXIAN PORT
EC World Asset Management Pte Ltd as manager (the “Manager“) of the EC World Real Estate Investment Trust (the”EC World REIT“), would like to announce that Chongxian Port Investment has had a mooring relocation and collapse incident that damaged two gantry cranes near the mooring. No injuries have been reported due to the location of the damaged area Operations on the damaged berth and the 2 neighboring berths were suspended, and the rest of the port operations are not affected.
Chongxian Port Investment is a port logistics asset with 23 berths of 500 tons (1,000 tons for hydraulic berths) with a planned annual throughput capacity of approx. 6 million tons and a stacking area of approx. 101,960.00 square meters.
A team from the property manager was on site immediately to assess the damage. The incident was reported to the relevant government authorities as well as the insurer. The cause of the incident is still being investigated. The manager works closely with the insurer to determine the amount of lost revenue and property damage that insurance claims can recover.
The Manager will make further updates available to Shareholders in due course.
For and on behalf of the board
Goh Toh Sim
Executive Director and Chief Executive Officer
EC World Asset Management Pte. GmbH.
(Company registration number 201523015N)
As manager of the EC World Real Estate Investment Trust
Date: April 30, 2021
The value of the units and the income derived therefrom can go down as well as up. The Shares are not obligations, deposits or guarantees of the Manager, DBS Trustee Limited (as trustee of EC World REIT) or any of their respective affiliates.
An investment in the Shares is subject to investment risks, including the possible loss of the amount of capital invested. Shareholders have no right to request that the manager redeem or buy their shares while the shares are listed. It is intended that Shareholders will only be able to trade their Shares through trading on SGX-ST. The listing of the Shares on SGX-ST does not guarantee a liquid market for the Shares.
This announcement is for informational purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe to the Shares.
This announcement may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, results and results could differ materially from those expressed in any forward-looking statements due to a number of risks, uncertainties and assumptions. Predictions, forecasts or projections of the economy or the economic development of the markets are not necessarily indicative of the future or the likely performance of the EC World REIT. EC World REIT’s forecast financial performance cannot be guaranteed. A prospective 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.
Disclaimer of liability
EC World Real Estate Investment Trust posted this content on April 30, 2021 and is solely responsible for the information contained therein. Distributed by the public, unedited and unchanged, on April 30, 2021 09:47:05 UTC.