News by theedgemarkets.com

In a filing with Bursa Malaysia, the REIT attributed the lower income to the rental support provided to tenants, and lower car park income, arising from the Covid-19 pandemic and Movement Control Order (MCO) since mid-March.

Affin Hwang Capital analyst Brian Yeoh: The potential divestment of Tesco Malaysia is a positive news for Sime as the hypermarket has been reporting continued losses since FY15 (financial year 2015) [except for FY18, likely due to one-off effects] due to intense competition from discount grocers and the growing e-commerce space as well as an increase in affluent customers.

MoH director-general Datuk Dr Noor Hisham said the ministry will present its latest findings on the Covid-19 situation in the country to the prime minister, and that the latter will then make the decision.

In a statement today, Sime Darby said its wholly-owned subsidiaries, Sime Darby Allied Products Bhd and Sime Darby Holdings Bhd, have entered into conditional agreements with Tesco Holdings BV and Tesco Plc, as well as the buyer of the stake, CP Retail Development Company Ltd.

The agreement entails a revised schedule for the payment of RM8.2 million, being the second out of five payment tranches, for the contiguous industrial land in Sungai Bakap.

The country's current infection number increased slightly to 5,532.

MRMA said Malaysian REITS (M-REITs) are burdened by operational expenditure and capital and financial commitments amid the closure of business premises during the Movement Control Order (MCO).

"The project is expected to take approximately 12 months from the date of securing the site, whilst the terms and conditions of the project is to be finalised within 6 months’ time."

According to the latest statistics released by the Ministry of Health (MoH), the number of active cases in the capital city was at 535, up from 523 on Monday.

"Following this withdrawal, Starhill Global REIT, its medium-term notes programmes and the notes drawn under the programmes continue to be rated by Fitch Ratings, and is currently rated 'BBB' with a stable outlook.”