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EC World REIT Delivers 19.7% Rise in Q3 2021 DPU

November 10, 2021 – EC World Real Estate Investment Trust declared a distribution per unit (DPU) of of 1.662 cents for the third quarter of 2021, rising 19.7% from the 1.388 cents DPU seen in the same period in 2020.

This translated to an annualized yield of 7.9%. ECW will retain 5% of total amount available for distribution in 3Q 2021 for withholding tax payment upon future profit repatriation.

Mr. Goh Toh Sim, Executive Director and CEO of the Manager, said, “Gross revenue and NPI increased to S$31.6 million and S$28.6 million respectively attributed to positive straight-line adjustments and the strengthening of RMB by 5.2% year-on-year. In RMB terms and after the relevant distribution adjustments, gross revenue was 0.9% higher year-on-year, mainly due to organic rental escalations and Late Fee income while NPI was 0.9% lower, largely attributed to higher operating expenses.”

“We remain prudent in our capital management with the retention of 5% of total amount available for distribution in 3QFY2021 for withholding tax payment upon future profit repatriation.”

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EC World REIT Delivers 19.7% Rise in Q3 2021 DPU