MRMA To Seek Further Government Reliefs To Address Covid-19

Pavither March 26, 2020

MRMA to seek further government reliefs to address Covid-19

The Malaysian REIT Managers Association (MRMA) is considering proactive measures to deal with the business implications brought by the Covid-19 pandemic.

In this regard, MRMA chairman Datuk Jeffrey Ng said the association will appeal to the government for additional reliefs in the form of further adjustments on electricity tariff, withholding tax exemptions for unitholders, as well as subsidies for statutory contributions, reported The Sun Daily.

Due to the implementation of the movement control order (MCO), which directed the closure of all government and private premises except those engaged in providing essential services like supermarkets, convenience stores, and pharmacies, Ng noted that businesses in certain sub-sectors within the REIT space in Malaysia are adversely affected at different degrees.

Read this article on how to be a smart consumer during these trying times! 

Hence, MRMA believes that this is the best time to show its support to its business partners, as well as its communities. The prerogative, however, still remains with the REIT managers, explained Ng.

“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.

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

The MCO is extended until 14 April after it came into effect on 18 March.


Check out these latest project reviews today! Or read our helpful Guides to learn all about the various property buying, selling and renting tips!


You may also like these articles

Bursa Construction Stocks Drops As Malaysia Imposes Movement Control Order

Bursa Malaysia’s construction index, which marks the listed builders’ share prices, sank at 13.45 points (or 10.53%) at 114.33 during the bourse’s 12:30pm break. Given the global outbreak of Co

Continue ReadingMarch 20, 2020

Further Cut On Malaysia’s OPR Looms Amid Covid-19 Pandemic

Bank Negara Malaysia (BNM) is expected to make another 25 basis points (bps) cut in the overnight policy rate (OPR), as most central banks globally are cutting their interest rates to address the impa

Continue ReadingMarch 23, 2020

COVID-19 Exacerbate Situation For The Property Market

With the COVID-19 pandemic, people in the real estate business are concerned that the virus outbreak will make the situation worse for the market – which has already been soft in recent years.In fac

Continue ReadingMarch 23, 2020

Sunway’s Non-essential Trade Retailers To Get 14-day Free Rent

Sunway Malls is offering its non-essential retailers RM20 million rent-free during the 14-day movement control order period running from 18 to 31 March 2020. Non-essential trade like fashion, enterta

Continue ReadingMarch 24, 2020

Malaysian Government May Have To Adjust Budget 2020 Amid Covid-19 Crisis

The government may have to re-assess Budget 2020 and reset its fiscal deficit target to more than 3.4% of gross domestic product (GDP) for this year, considering the additional spending needed to addr

Continue ReadingMarch 25, 2020