Dasin Retail Trust suspends trading amid financial reporting challenges

Trading in the units of Dasin Retail Trust has been suspended on the Singapore Exchange.

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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 (AGMs), said the trustee-manager in a bourse filing on July 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 AGMs 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 financial years 2023 and 2024, and the quarterly results for financial year 2024 and financial year 2025.