Mapletree won't cut rents

[R4g3]

March 13, 2009
Mapletree won't cut rents
By Joyce Teo
DESPITE requests for rental rebates, Mapletree Industrial Trust (MIT) will not be offering any rental reductions to its tenants for now.

Instead, it will help tenants on a case-by-case basis, be it in restructuring lease terms, arranging for an instalment plan or helping them relocate to a cheaper place.

Last July, JTC Corp divested $1.71 billion worth of assets to MIT.

Mapletree Investments said on Friday that the private trust - of which it owns a 30.5 per cent stake - has its own constraints as it faces stricter loan convenants and its interest costs have almost doubled.

MIT's tenants petitioned for rental cuts after JTC announced that it was offering a 15 per cent rent rebate to its tenants as part of the Resilience Package.

Earlier today, Mapletree said the tenants of flatted and stack-up factories as well as warehouses are already benefiting from a 5 per cent rental cap - of JTC's rent on July 2007 - when they renew their leases.

 

[Pek Kim Lui]

In other words... it is the bank's fault

 

[po2wq]

lets c who blink or die 1st ...

 

[makapaaa]

Yet another Familee-owned vehicle to make $ from Sporns! And the farking Ho Jinx butch has no problem lending $ to Indian SMEs in India and losing it all!

http://arthurkwok.wordpress.com/2008/07/03/mapletree-full-year-earnings-dip-3/

Operating profit, however, rose 35 per cent to $146.9 million on the back of first full-year contributions from VivoCity and St James Power Station (SJPS) and maiden contribution from The Beacon, a residential project at Cantonment Road.

The fully owned subsidiary of Temasek Holdings also achieved much higher occupancy and rental rates from all its investment properties across the board.

Revenue jumped 69 per cent to $365.6 million with VivoCity and SJPS contributing a total $99.5 million and The Beacon contributing $47.5 million.

The Temasek unit booked a net revaluation gain of $879 million (after deferred tax provision) for the latest financial year, lower than the $971.2 million in the preceding year.

 

[makapaaa]

Whose interests do Temasick serve?

Familee and Foreigners or Singapore Citizens?

The answer is OBVIOUS!

REVOLT AGAINST THE CORRUPT AND GREEDY TRAITORS!​