Rent relief for Sunway Malls’ non-essential retailers

  • Nation
  • Thursday, 26 Mar 2020

PETALING JAYA: Sunway Malls has granted a 14-day rent-free period to affected non-essential retailers in response to the movement control order (MCO).

In a statement, Sunway Malls said it had weighed the matter following the Prime Minister’s announcement on the MCO that takes effect from March 18 to 31 (now extended to April 14), especially on how the order will impact the non-essential trade retailers due to the mandatory suspension of trading.

“While Sunway Malls supports the government’s decision on the movement control order as the national top priority to rein in the Covid-19 outbreak and protect the safety of the community, the mall group also believes that the long-term sustainability of its business partners is also an important factor,” it said.

“While essential supplies and services such as supermarket, pharmacy, convenience store and F&B (delivery and takeaway) remain open to continue serving the community, non-essential trade – fashion, home furnishing, entertainment, leisure outlets, etc – are mandated to cease trading during the 14-day period.

“For non-essential trade retailers, the current situation puts a tremendous strain on revenue and cash flow.

“Henceforth, Sunway Malls (Sunway Pyramid, Sunway Velocity, Sunway Carnival, Sunway Putra, Sunway Big Box Retail Park, Sunway Giza and Sunway Citrine), of which Sunway Pyramid, Sunway Carnival and Sunway Putra are under REIT (Real Estate Investment Trust), is granting RM20mil rent-free to non-essential trade retailers for the 14-day MCO period,” it said in the statement.

The mall group added that it would also undertake steps to ease credit control for retailers.

“The global scale of this outbreak is both unprecedented and uncharted. At times like these, everyone is losing.

“Each of us has the responsibility to shoulder and share the pain.

“This grant is expected to bring a certain degree of comfort and relief to Sunway Malls’ affected retailers,” said Sunway Malls and Theme Parks CEO H.C. Chan.

“Sunway Malls is still monitoring the situation closely and reviewing the developments as it unfolds,” he added.

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