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Today ppl got a peep of EC world closet of skeleton.
Covid caused revenue to fall, leading to sponsor defaulting which led to questions that opened the closet for all the skeletons to fall out.
prophetjul ( Date: 03-Jul-2020 10:05) Posted:
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I think we are all tired by management financial shenanigans that result in retail investors lose their hard earned money. I do not know what this latest development REALLY mean in the long run since information is not fully transparent. The battle scar I learn in investing in Singapore market with these Chinese / foreign plays is to bail out when there is any sniff of controversy. Cut loss is better than losing all. There is nothing wrong by believing mischievous shortlist at work too and holding on. I wish holders best of luck. I am done with such Chinese & foreign reits.
Already said. Shortists creating panic. Kancheong spiders panic and sell without thinking. Now bargain hunters chasing and shortists covering. Those like me who bought below $0.58 now laughing
aniki19 ( Date: 03-Jul-2020 11:15) Posted:
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Was wondering why the sudden drop and increase in such a short period of time :O
will be suspended like EHT ?
danger ( Date: 03-Jul-2020 10:00) Posted:
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Now people are waking up to the buying opportuities. I HUAT liao!
nott1965 ( Date: 03-Jul-2020 09:24) Posted:
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SECURITIES AND FUTURES ACT
(CAP. 289)
GUIDELINES ON LICENSING, REGISTRATION AND CONDUCT OF BUSINESS FOR FUND MANAGEMENT COMPANIES
Need to speak to a lawyer to understand what it means, but a quick glance through the 28 pages doesn' t indicate anything related to fraud, misstatements of accounts, etc...
You can check it online
prophetjul ( Date: 03-Jul-2020 10:06) Posted:
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Looking it this rationally.
Mr. Li Jinbo is the Chief Investment Officer. Joined in Jan 2017.
Mr GOH TOH SIM. 14 February 2018. Mr Goh was Executive Director and President of Investment & Asset Management of the Manager for more than 15 months from the listing of EC World REIT on the Main Board of Singapore Exchange Securities Trading Limited on 28 July 2016 till 8 November 2017. Mr Goh was re-designated from Executive Director to Non-Executive Director of the Manager on 9 November 2017, when Mr Goh was appointedthe Chief Executive Officer of Forchn International Pte. Ltd (&ldquo Forchn International&rdquo ), a wholly owned subsidiary of the Sponsor and the sole shareholder of the Manager. Mr Goh is appointed as Executive Director and Acting CEO of the Manager following the resignation of Mr Alvin Cheng as Executive Director and CEO of the Manager. Prior to this appointment, Mr. Goh has relinquished all his positions at Forchn International. 23 March 2018 Mr Goh offically became the CEO.
So, Mr Goh left his Investment role to become CEO in Nov 2017. Since Li Jinbo current Chief Investment Officer role in this REIT is also short, likely the CAD investigation is related to his previously job when he was an investment banker with Deutsche Bank and Standard Chartered.
Mr. Li Jinbo is the Chief Investment Officer. Joined in Jan 2017.
Mr GOH TOH SIM. 14 February 2018. Mr Goh was Executive Director and President of Investment & Asset Management of the Manager for more than 15 months from the listing of EC World REIT on the Main Board of Singapore Exchange Securities Trading Limited on 28 July 2016 till 8 November 2017. Mr Goh was re-designated from Executive Director to Non-Executive Director of the Manager on 9 November 2017, when Mr Goh was appointedthe Chief Executive Officer of Forchn International Pte. Ltd (&ldquo Forchn International&rdquo ), a wholly owned subsidiary of the Sponsor and the sole shareholder of the Manager. Mr Goh is appointed as Executive Director and Acting CEO of the Manager following the resignation of Mr Alvin Cheng as Executive Director and CEO of the Manager. Prior to this appointment, Mr. Goh has relinquished all his positions at Forchn International. 23 March 2018 Mr Goh offically became the CEO.
So, Mr Goh left his Investment role to become CEO in Nov 2017. Since Li Jinbo current Chief Investment Officer role in this REIT is also short, likely the CAD investigation is related to his previously job when he was an investment banker with Deutsche Bank and Standard Chartered.
What exactly is Chapter 289?
LionInvestments ( Date: 03-Jul-2020 10:00) Posted:
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Was it due to Covid or the sponsors who defaulted on their payments?
Could happen to any other Reit.
Could happen to any other Reit.
laksaman57 ( Date: 03-Jul-2020 09:56) Posted:
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laksaman you know best about EHT
laksaman57 ( Date: 03-Jul-2020 09:56) Posted:
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If I understand it well Chapter 289 doesn' t have anything to do with fraud though...also CIO was interviewed, not CFO nor CEO...
Is it worth a gamble?
Is it worth a gamble?
prophetjul ( Date: 03-Jul-2020 09:46) Posted:
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Without the covid to stress test and expose EHT, their secret would be hidden for years.
prophetjul ( Date: 03-Jul-2020 09:39) Posted:
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Just too much fraud in the market now. SG regulators are rather benign.
So inevstors are always on the edge. Even with statements like '
' CAD indicates that EC World REIT and the manager of the REIT are not under investigation.'
So inevstors are always on the edge. Even with statements like '
' CAD indicates that EC World REIT and the manager of the REIT are not under investigation.'
all my friends exiting.
Profile of person being investigated.
Mr. Li Jinbo is the Chief Investment Officer of the REIT Manager and is in charge of investment, asset management and investor relations functions of the Manager.
He is responsible for ECW REIT&rsquo s corporate development activities including acquisitions, divestments as well as asset management. Mr. Li also serves as the main contact point between the Manager and the investment community focusing on maintaining and strengthening relationships with institutional, retail investors as well as research analysts and media.
Prior to joining the Manager in January 2017, Mr. Li worked as an investment banker with Deutsche Bank and Standard Chartered. During his corporate advisory career, he advised clients across different industries on a multitude of capital raising and M& A transactions with a focus on real estate and REITs sector. He started his career with Citigroup in Singapore.
Mr. Li graduated from National University of Singapore with a degree (Honours) in Industrial & Systems Engineering.
Mr. Li Jinbo is the Chief Investment Officer of the REIT Manager and is in charge of investment, asset management and investor relations functions of the Manager.
He is responsible for ECW REIT&rsquo s corporate development activities including acquisitions, divestments as well as asset management. Mr. Li also serves as the main contact point between the Manager and the investment community focusing on maintaining and strengthening relationships with institutional, retail investors as well as research analysts and media.
Prior to joining the Manager in January 2017, Mr. Li worked as an investment banker with Deutsche Bank and Standard Chartered. During his corporate advisory career, he advised clients across different industries on a multitude of capital raising and M& A transactions with a focus on real estate and REITs sector. He started his career with Citigroup in Singapore.
Mr. Li graduated from National University of Singapore with a degree (Honours) in Industrial & Systems Engineering.
This Reit has been distributing for a few years. How is it like EHT?
Unless wll the accounts are faked.
So how will any one trust in SG stocks anymore?
Unless wll the accounts are faked.
So how will any one trust in SG stocks anymore?
mrwise ( Date: 03-Jul-2020 09:36) Posted:
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Possibly a hybrid of EHT & MIDAS
if like EHT reit, this will soon go down further...
Be careful..