March 13, 2020 / 1:05 PM / 17 days ago

BRIEF-New Century Real Estate Investment Trust Updates On Impact Of Coronavirus On Ops

March 13 (Reuters) - New Century Real Estate Investment Trust:

* EXPECTED THAT FINANCIAL RESULTS CO FOR SIX MONTHS ENDING 30 JUNE 2020 WILL BE ADVERSELY IMPACTED

* ZHEJIANG NEW CENTURY HOTEL MANAGEMENT CO SUSPENDED OPERATIONS OF INITIAL HOTEL PROPERTIES SINCE 25 JAN

* EXPECTED THAT BUSINESS OPERATIONS AT KAIFENG HOTEL WILL RESUME ONCE HENAN PROVINCE LOWERS RESPONSE LEVEL TO LEVEL II

* THERE WAS DOWNWARD ADJUSTMENT OF BASE RENT FOR INITIAL HOTEL PROPERTIES FOR YEAR BY RMB20.77 MILLION

* ANNUAL BASE RENT FOR KAIFENG HOTEL SHALL BE ADJUSTED PROPORTIONATELY FOR DURATION OF PERIOD OF SUSPENSION Source text for Eikon: Further company coverage:

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