REIT managers to seek additional reliefs from govt

PETALING JAYA: The Malaysian REIT Managers Association (MRMA) said it is considering proactive measures to address business implications arising from the Covid19 pandemic.

In a statement, its chairman Datuk Jeffrey Ng said MRMA will appeal to the government to consider additional reliefs in the form of further electricity tariff adjustments, unitholders withholding tax exemptions, and subsidies for statutory contributions, for the real estate investment trust (REIT) sector.

“MRMA is committed to doing its best in fighting the pandemic with full support to the Malaysian government and all stakeholders.

“MRMA believes that this is the best time to demonstrate our support to our valued business partners and our communities. However, this remains at the prerogative of the REIT managers,” he said.

Ng noted that due to the implementation of the movement control order (MCO), businesses in selected sub-sectors within the REIT space in Malaysia have been adversely impacted at varying degrees.

“For the case of Malaysian REITs with retail segment exposure, the respective REIT managers are adopting a proactive stance in supporting their tenants through this difficult time. The degree and form of support may vary from one to another,” he said.

The MCO has been extended to April 14 after it kicked in on March 18.