Will rentals drop in Suria KLCC?
A common theme in the notes of companies quarterly results is how the movement control order (MCO) and Covid-19 pandemic is affecting their business.
In this respect, if anybody had wanted to know if rental rates in Suria KLCC are affected and what mitigating measures are being taken by the company, they would not have had a clue based on the results of KLCC Property Holdings Bhd (KLCCP).
In its first quarter results released earlier this week, KLCCP stated that the hotel operations, which essentially is Mandarin Oriental, was affected by the MCO, which kicked in on March 18. The hotel division chalked up a loss while the retail and office spaces continued to show growth in profits.
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