Dasin Retail Trust ("DRT") found itself currently in hot soup when one of its bankers, through its lawyers, issued a statutory demand letter to its management. The demand letter dated 10 January 2023 declared that DRT is openly in default of the facility agreement entered into on 15 December 2022 for USD13.1Mil. This first firing of shot by Luso International Banking Limited may complicate the syndicated loan extension by other banks (yes, DRT has already applied for numerous extension of its syndicated loans as it has been unable to repay the debt) and sent DRT into an upcoming forced liquidation and fire-sales of all its investment properties. What on earth is happening to DRT with its endless pleas to bankers for loan extension? The syndicated bankers are not willing to continue lending to DRT unless they do a partial repayment of the total sum to pare down on debt level. DRT management thus have been struggling...