Lesson learned
$EC World Reit(BWCU.SI)$ still flat, still suspended. The Reit manager said on Jan 2 that the sponsor had taken out the mortgages without its knowledge and consent. It only learnt about the illegal mortgages from its onshore security agent.
Since Jan 5, the manager has taken control of the company and legal representative seals, as well as the contract and finance stamps from the property management teams in China.
The sponsor updated unitholders on Jan 15 that a lapse in the approval process resulted in the illegality of the three mortgages.
If you think REITS good investment, good PB, EPS, DY, etc etc when problems happened, good PB and EPS couldn't not help. It will become flat. So always invest within your risk limit, do not go crazy because of money. I always consider to diversify, although not profit much, do not loss much either.
Wish there is solution for BWCU.
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