EC World REIT sees departure of chief investment officer amid Police investigations

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The 35-year-old chief investment officer (CIO) of EC World REIT’s manager, Li Jinbo, has left the company amid ongoing Police investigations.

Li, who was appointed as CIO in August 2019, is being investigated by the Commercial Affairs Department (CAD) of the Singapore Police Force, as reported in early-July.

Related: EC World REIT plunges 21% on news of Police investigations

As CIO, he was responsible for EC World REIT’s asset management, and investor relations functions.

Li has left the company as he has taken on a new job, said EC World REIT in a filing with the Singapore Exchange (SGX) late on 17 July.

He continues to hold 32,860 units of EC World REIT.

EC World REIT was last done on the SGX at SGD0.65, a discount of about 30% to book value, according to data compiled in the Singapore REITs table.

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