<div id="readability-page-1"><div>[SINGAPORE] Trading in the units of Dasin Retail Trust has been suspended on the Singapore Exchange.This comes as the business trust is unable to comply with listing rules that require the timely release of financial results and the holding of annual general meetings, said the trustee-manager in a bourse filing on Monday (Jul 21). Under the rules, an issuer is required to announce its full-year and quarterly financial results as soon as the data is ready, and to hold its annual general meetings within four months after the end of its financial year. However, since the third quarter of 2023, the management team of Dasin Retail Trust’s China units has stopped providing key financial documents, such as accounting schedules, balances and transactions with related parties. These documents are required to prepare the group’s annual financial statements for FY2023 and FY2024, and the quarterly results for FY2024 and FY2025. “The personnel in charge of the rent-rolls of the retail malls of the trust has refused to provide such information for the purpose of conducting the valuation of the investment properties which are the most significant assets in the group’s statements of financial position as at Dec 31, 2023 and 2024,” said the trustee-manager. As a result, the trust has not published audited financial statements and held annual general meetings since the financial year ended Dec 31, 2021. The trust also warned that its assets are at “significant risk” and are “subject to significant impairment” due to a series of developments involving its China subsidiaries. These include suspicious fund transfers, unauthorised lease agreements, diverted rental income and breaches of loan agreements. Moreover, the moratorium granted by the High Court of Singapore has expired on Jul 13. According to a Jan 14 bourse filing, Dasin Retail Trust was granted a six-month moratorium, during which no resolution could be passed for the winding-up of the company, and no legal proceedings could be commenced or continued against it without court approval. Additionally, no receiver or manager could be appointed over any property or the trustee-manager itself. The moratorium also prevented enforcement orders or legal processes against the trust, including actions to repossess assets or enforce lease violations, unless permitted by the court. The trustee-manager was also directed to provide valuation reports on the trust’s malls, information on any acquisition, disposal or security grant over the trustee-manager’s property, as well as quarterly updates on company-level financial statements. “Under the current circumstances, the trustee-manager may not have sufficient information to allow unitholders to properly assess the trust’s financial position for the purpose of trading in the units,” said the trustee-manager. It will make further announcements if there are material developments that warrant disclosure. Units of Dasin Retail Trust closed flat at S$0.020 on Monday, after the announcement.</div></div>

大信商用信托

大信商用信托因无法遵守有关及时财务报告和年度股东大会的上市规则，已暂停在新加坡交易所的交易。该信托自 2021 年以来未发布经过审计的财务报表，并面临与其资产相关的重大风险，包括可疑的资金转移和未经授权的协议。保护该信托的暂停令已到期，进一步复杂化了其财务状况。受托管理人表示，单元持有人可能缺乏足够的信息来评估该信托的财务状况以进行交易

大信商用信托因面临财务报告困难而暂停交易