On prospects moving forward, Pavilion REIT said patrons were slowly coming back to retail malls during the recovery MCO period (which was implemented from June 10)
PETALING JAYA: Pavilion Real Estate Investment Trust
(REIT) has reported a net profit of RM9.99mil in its second quarter ended June 30, compared with a net profit of RM59.23mil in the previous corresponding period, mainly due to rent rebates to tenants that were affected by the movement control order (MCO).
“These tenants were not allowed to conduct their usual business following the government’s MCO and conditional MCO that started from March 18 and extended until June 9.
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