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EC World REIT Reports Distribution Per Unit (DPU) Of 1.383 Cents For Q1 FY2022

May 13, 2022 – EC World Real Estate Investment Trust wishes to report that ECW achieved a 4.4% increase in gross revenue, mainly attributed to strengthening of RMB, organic rental escalation as well as late fee income in Q1 FY2022. NPI grew 7.4% year-on-year due to lower property expenses.

The increase was mainly offset by withholding tax expenses paid for repatriation of funds as well as provision for Pre- termination Compensation to the third-party tenant at Fu Zhuo Industrial as a result of the Compulsory Expropriation.

Mr. Goh Toh Sim, Executive Director and CEO of the Manager, said, “As countries seek normalcy in a post-pandemic world, discrepancies in fundamentals persist. The pandemic has caused major disruptions in global supply chain with shutdown of industries, causing lower consumer demand and reduced industrial activity globally.”

“The recent COVID lockdowns in China caused new bottlenecks in global supply chains and threaten to undermine economic growth with lower consumer spending and higher unemployment.

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