To allow Liew to “lead the Group in overcoming present market challenges and to take advantage of opportunities that will undoubtedly present themselves in every crisis”.
The decision was made during the Cabinet meeting today, and said this demonstrated the government’s sincerity in helping those affected by the pandemic.
MIPFM president Adzman Shah Mohd Ariffin: Most property management businesses are in the SME category and are operating at competitive fees with slim margins, and some are already facing delayed payments from clients.
Property developers may have a slight buffer from unbilled sales to cushion the near term impact of the MCO but those with high gearing and bad credit record are in a precarious situation, said RHB Research Institute senior analyst Loong Kok Wen.
The Movement Control Order imposed by the government to stem the spread of the COVID-19 which began on March 18 until April 14 (extended from the initial date of March 31) will see many sectors including the property sector struggling because of limited business activities.
Rented for: RM11,000 per month (RM2.60 psf); Concluded by: Joanne Soh (REN 13124, 012-297 6506) of CBD Properties Sdn Bhd; When: November 2019
Unlike some retail-based REITs which are giving free rent to tenants of Pavilion REIT malls operating non-essential services during the MCO (at least until March 31, before the MCO period was extended to April 14), non-retail REITS will probably not follow suit, said an industry source.
However, other than showing mild symptoms of the disease, he “remains in good health".
New Zealand Prime Minister Jacinda Ardern: Make no mistake, this will get worse before it gets better.
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