EC World REIT property, Hengde Logistics. (Photo: EC World REIT)EC World REIT property, Hengde Logistics. (Photo: EC World REIT)

Embattled EC World REIT has come forward to explain how it intends to reconcile the large disparity between its outstanding debt and available bank balance.

In its 2Q 2023 financial statements, EC World REIT reported that it has liabilities of SGD1,010,486,000 and bank balances of only SGD119,070,000.

These include short term liabilities of SGD682,167,000.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.