Covid-19 dampens outlook of firms

IGB Bhd concurs, as it expects the group’s performance, particularly its property investments in retail and hotel segments to be affected by the uncertainty in the global and local economy, also due to the Covid-19 virus outbreak. The developer of Mid Valley Megamall is bracing for a more challenging scenario in the near term, due to a “scheduled increase in supply of new retail space and slower demand for office space in Kuala Lumpur.

IT is no surprise that the Covid-19 theme has featured prominently in the business outlook which listed companies have posted in their latest quarterly results.

The virus outbreak, naturally, has dampened their outlook.