EC World Real Estate Investment Trust (SG:BWCU) has released an update.
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EC World Real Estate Investment Trust faces a financial hiccup as its subsidiary FIPL fails to repay a $10 million loan, with an accrued interest of over $1.29 million, despite securing it with a substantial number of units and a personal guarantee by Mr. Zhang. The loan, intended for a six-month term, puts EC World REIT’s financial management into the spotlight, with unitholders being informed of the developing situation.
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