March 5, 2020 / 10:37 AM / 24 days ago

BRIEF-Yuexiu REIT Expects Financial Results For H1 Will Be Impacted

March 5 (Reuters) - Yuexiu Real Estate Investment Trust :

* UPDATE IN RELATION TO COVID-19

* EXPECTS THAT FINANCIAL RESULTS OF YUEXIU REIT FOR FIRST HALF OF 2020 WILL BE ADVERSELY IMPACTED

* ESTIMATED TOTAL RENTAL CONCESSIONS FOR ALL PROPERTIES HELD WILL BE RMB90.0 MILLION

* OCCUPANCY RATE OF ASCOTT IFC GUANGZHOU, EXPECTED TO REMAIN STEADY, BUT SLIGHTLY BELOW TARGET

* EXPECTED THAT BUSINESS ENVIRONMENT IN PRC WILL REMAIN SOFT IN NEAR TERM UNTIL SPREAD OF COVID-19 IS EFFECTUALLY CONTAINED

* ALL TENANTS OF STARRY VICTORIA SHOPPING CENTRE IN WUHAN WILL BE OFFERED A WAIVER OF TWO-MONTH’S RENT

* IMPLEMENTED MORE STRINGENT COST CONTROL MEASURES TO OPTIMISE COST SAVINGS FOR HOTEL BUSINESS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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