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Stay away from REITS until clarity on the damaged to the NPL on tenants defaulting payment. Everyone will gang up to demand rental free during MCO...but will MCO be extended?
PavReit also free rent for 2 weeks.
Started for 1st two weeks lock down before the 2nd two weeks announcement.
Not sure they will free rent for another two weeks or not. If yes, very bad already the retailer Reit for 1H.
Even if they don't grant an additional 2 weeks/4 or 6 weeks free rental, the likelihood of Bad Debts will be high. 2 months rental deposits may not be sufficient to cover at all. When existing tenants moved out, it would be a massive challenge to bring new tenants in (at the same rental rate per sq ft)
three weeks ago, 0.50 was a good time to collect some (20%). when it drops again to this level and even further lower, another opportunity to collect (10%, 20%, 40%).
arreit only having selayang mall in retail sector..its main income contributor is from Vista tower, an office, then educational campuses..question now is will arreit have to waive them rent or not that will impact income..any news?
Zi Theng, take Selayang Mall for example. My client who is operating a retail outlet will simply NOT pay rental. Because there is NO cash flow even to pay for salary..
I think the mostly affected is selayang mall only, but it can be mitigate by the master tenant. But overall if Arreit waive all their tenants for 1mth rental, the dividend yield still got at least 6%... Due to the reduce 0.5% of OPR saved Arreit millions of interest as it 100% floating rate..