Daily Tax Report ®

SPH REIT to Fully Pass On Property Tax Rebate to Hurt Tenants

March 26, 2020, 12:26 PM

SPH REIT has committed to fully pass on the property tax rebates received from the Singapore government to tenants whose businesses have been impacted by the coronavirus pandemic.

  • REIT manager’s board of directors will take a 10% cut of their directors’ fees, while CEO Susan Leng will also take a salary reduction of 10%, company says in press statement
  • Cuts will be effective from April and be reviewed at the end of the year
  • SPH REIT has contacted its tenants to better understand the impact of COVID-19 on their businesses and granted targeted rental rebates for February and March 2020

To contact the reporter on this story:
Nicholas Reynolds in Singapore at nreynolds2@bloomberg.net

To contact the editor responsible for this story:
Tomoko Yamazaki at tyamazaki@bloomberg.net

© 2020 Bloomberg L.P. All rights reserved. Used with permission.

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