|In mid-May, EC World REIT, whose assets are in the logistics sector catering largely to e-commerce, will report its 1Q2020 financial performance.
All eyes will be on how the Covid-19 outbreak may have impinged on its income which is entirely derived from 8 assets in China.
The analyst reports in early March 2020 had forecasts that translates into good yields.
At DBS' forecast of 6.26 cents per unit for 2020, the distribution translates into 10.4% yield based on the recent trading price of 65 cents.
RHB's forecast is 6.1 cents, while Phillips Securities, 6.27 cents.
Those forecasts will likely be revised down in due course.
The REIT Manager said, on 3 April, it would be providing tenants of its assets with cash rental rebates amounting to RMB 23.7 million to to mitigate the adverse impact of the COVID-19 situation on their operations.
the Chairman of EC World Asset Management and the ultimate owner of Forchn International Pte. Ltd, has contributed essential medical supplies and personal protective equipment to Singapore.
EC World Asset Management is manager of EC World Real Estate Investment Trust, and Forchn International Pte. Ltd.
Both entities operate in Singapore.
Mr. Zhang said, “The COVID-19 outbreak has severely affected people globally, fighting the virus is everyone’s responsibility. With our listed company and fund management company in Singapore, we want to stand shoulder to shoulder with the people and Government of Singapore to render appropriate support where we can as we face the COVID-19 challenges together.”
The donation includes:
Meanwhile, Mr Zhang Guobiao,
• 5000 Protective Coveralls A Grade (suitable for use in surgery);
• 5000 B Grade Overalls for non-surgery use; and
• 500,000 face masks.