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An announcement from Dasin Retail Trust ( (SG:CEDU) ) is now available.
Dasin Retail Trust has encountered a significant breach of its internal controls and contractual obligations due to an unauthorized repayment of RMB150 million on its onshore loans by its PRC subsidiaries, reducing the outstanding amount to RMB200 million. This action violates the IPO Intercreditor Deed, which requires maintaining a minimum of RMB350 million in outstanding loans until offshore liabilities are fully discharged, potentially hindering the trust’s restructuring efforts. The board is investigating the matter and seeking legal advice.
More about Dasin Retail Trust
Dasin Retail Trust is a business trust established under the laws of the Republic of Singapore, focusing on retail property investments primarily in the People’s Republic of China. Its portfolio includes assets such as Xiaolan Metro Mall, Ocean Metro Mall, Dasin E-Colour, and Shiqi Metro Mall.
Average Trading Volume: 10,869
Technical Sentiment Signal: Sell
Current Market Cap: S$18.5M
Find detailed analytics on CEDU stock on TipRanks’ Stock Analysis page.