EC World Real Estate Investment Trust (SG:BWCU) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
EC World Real Estate Investment Trust has disclosed that its sponsor’s affiliates, Mr Zhang Guobiao and Mr Zhang Zhangsheng, are facing Consumption Restriction Orders in China after defaulting on a substantial loan. The failure to repay the loan has instigated legal proceedings against them for the recovery of the remaining principal and associated costs. This development could have implications for the trust, as the individuals are significant stakeholders and guarantors in the defaulted loan agreement.
For further insights into SG:BWCU stock, check out TipRanks’ Stock Analysis page.
