PETALING JAYA: Pavilion Real Estate Investment Trust’s (REIT) net profit fell 50% to RM34.60mil in the first quarter ended March 31 from RM69.23mil a year ago due to lower net property income.
In a filing with Bursa Malaysia, it said group revenue was also down 22.8% to RM116.40mil in the quarter compared to RM150.92mil in the corresponding quarter a year ago due to the 14-day, rent-free period from March 18 to March 31,2020 given to tenants that were not providing essential services and supplies.
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