The sum is for a financial consultancy agreement between the trustee-manager and GSUM-Titanland Capital
THE trustee-manager of Dasin Retail Trust said on Thursday (Jul 10) that it has received a letter of demand from GSUM-Titanland Capital for S$214,000, allegedly outstanding from a financial consultancy agreement.
The agreement between the trustee-manager and GSUM-Titanland was inked when GSUM-Titanland became Dasin’s financial advisor for the restructuring of its syndicated loans amounting to an estimated 4.5 billion yuan (S$910,000).
GSUM-Titanland is a corporate finance advisory firm and an associate company of China-based GSUM Fund Management.
The trustee-manager of Dasin Retail Trust was previously served a letter of demand from GSUM-Titanland on Jul 10, 2023 for an outstanding sum of S$856,000, in relation to this same financial consultancy agreement dating back to Mar 19, 2022.
The trustee-manager is seeking legal advice on this latest letter of demand, and will make further announcements on the Singapore Exchange Net if there are material developments.
Units of Dasin Retail Trust closed at S$0.021, down S$0.001 or 4.6 per cent on Thursday, before the announcement.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
