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Dasin Retail Trust, EC World REIT face chart pattern weakness ahead of refinancing efforts

Goola Warden
Goola Warden5/5/2022 3:54 PM GMT+08  • 3 min read
Dasin Retail Trust, EC World REIT face chart pattern  weakness ahead of refinancing efforts
The chart patterns of Dasin Retail Trust and EC World REIT appear weak as they focus on refinancing most of their loans.
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Dasin Retail Trust, a property trust structured as a business trust with self-imposed REIT metrics such as gearing limits and distributing at least 90% of its distributable income, has a new major unitholder which also owns 70% of the manager.

Based on a Singapore Exchange (SGX) filing, Sino-Ocean Capital’s proxies acquired some 45.47 million units in Dasin Retail Trust for $13.36 million, translating around 29.4 cents per unit. Sino-Ocean’s acquisition price is significantly below the trust’s net asset value (NAV) of $1.40.

While the price of 29.4 cents would set a new low for the unit price, the transaction appeared to be “off-market”. Hence, the new low was not recorded. Following the transaction, units in Dasin Retail Trust last traded at 30 cents, translating into a distribution per unit yield of 17% and Price/NAV of 0.21x.

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