Mr Lai added that SPH Reit's distribution per unit cut may have come as a shock to investors, but could now"become the upside surprise" given the nation's recently proposed rental waiver Bill.
SPH Reit committed up to 2.3 months of rental relief to selected tenants - the most generous among retail landlords. The proposed Bill was announced on Tuesday alongside the Fortitude Budget, with Deputy Prime Minister and Finance Minister Heng Swee Keat announcing thatto small and medium-sized enterprise tenants that have suffered a significant revenue drop in the past few months.
However, Mr Lai said it is"unlikely" that SPH Reit would have to provide more rebates, or make further provisions, given the already generous rebates given to its tenants.
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