Dasin Retail Trust receives demand letter from executives on alleged outstandings

The REIT’s trustee-manager allegedly owes $783,376.

Dasin Retail Trust received a demand letter from four executives about alleged outstandings owed by its trustee-manager, Dasin Retail Trust Management, in respect of monthly salary, payments made on behalf of the trustee-manager and/or a loan extended to the trustee-manager.

The four executives were Wang Qiu, the CEO of the Trustee-Manager; Ng Mun Fai, the CFO of the Trustee-Manager; Lu Zhiqi, the Chief Investment Officer of the Trustee-Manager; and Liu Ting, the Executive Secretary of the Trustee-Manager.

The REIT said its trustee-manager also received a statutory demand letter from Zhang Guiming about "alleged outstandings totalling $272,000 due and owing by the Trustee-Manager under two Short-Term Advance Agreements dated 12 May 2022 and 18 January 2023.”

“The Trustee-Manager is currently seeking legal advice in respect of the aforesaid statutory demand letters,” the retail property trust said.

Follow the link for more news on

Dasin Retail Trust

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia