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https://www.straitstimes.com/business/companies-markets/singapore-reit-shares-tumble-after-extensive-damage-to-its-hong-kong-mall

Singapore Reit's shares tumble after 'extensive damage' to its Hong Kong mall from protests

SINGAPORE - Festival Walk, a shopping centre in Hong Kong owned by Singapore-listed Mapletree North Asia Commercial Trust (MNACT), suffered "extensive damage" after protesters attacked the mall on Tuesday night (Nov 12).

A few groups of protesters smashed the glass panels at the entrance to the property,  including the office lobby and balustrades on various levels of the mall, the real estate investment trust (Reit) said on Wednesday before the stock market opened.

The protesters also set fire to the Christmas tree within the mall, as well as the office lobby, the Reit said. The fires were eventually put out.

There were no reports of injuries at the property located in the Kowloon Tong area of Hong Kong, the Reit said.

Festival Walk has been closed since 2pm on Tuesday amid citywide disruptions, and will remain closed on Wednesday.

MNACT's manager is assessing the damage and will provide an update.

Units of MNACT faltered on Wednesday morning following news of the damage to Festival Walk mall in the midst of the city's unrest.

The Reit sank 4.92 per cent or six cents to $1.16 at 9.31am, and was trading at the same price at 1.30pm. The 21 million units that changed hands made it one of the most heavily traded counters on the Singapore bourse. 

Hong Kong entered a third straight day of chaos on Wednesday after a night of intense battles between pro-democracy protesters and riot police that saw some of the most violent scenes in more than five months of unrest.

On Tuesday, protesters overran City University adjacent to Festival Walk mall. Students in hard hats and gas masks spent much of Tuesday barricading the university campus, making shields, and stockpiling bricks and petrol bombs on bridges, Reuters reported.

On Sunday afternoon, altercations also broke out at Festival Walk during what was supposed to be a peaceful gathering of protesters. The manager's team was on site to immediately direct shoppers, tenants and their employees out of the premises, and the mall closed at 6.45pm on Sunday, MNACT said in a filing on Monday.

There was minimal damage to the property from Sunday's incident, and the mall had resumed operations on Monday.

The Singapore-based Reit generates almost 70 per cent of its revenue from Hong Kong.

 

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34 minutes ago, Thaiyotakamli said:

Fight fight

 

hung xin vs tung xin

 

I think everyone is waiting for this to happen …. including the govt.

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51 minutes ago, Dfx16 said:

Anyone know the diff between the cops on the left and the right? They are in diff uniforms 
 

 

although the rioters are always fighting against the HKPF, they will still go to report to  the police when it serves their needs … eg, when they need the police to investigate incorrect police due process.

they just want to test the HKPF's integrity … as to how long the HKPF can maintain their neutral stance against the rioters and protesters.

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2 hours ago, t0y0ta said:

PLA and tanks haven't rolled in?

Yawn.

Let me know when they come in to save the day just like how US Army liberated Nazi occupied Europe.

Now we all know.... lucky there was Tiananmen crackdown. CCP swift and decisive action saved the country against similar chaos.

According to Zhao Zi Yang, he managed to cool down the students.

Unfortunately, Li Peng add oil to dying fire. That’s why Li Peng is conferred with hero of TianAnMen Square upon his death. Deng Xiao Ping was leader of CCP Military Commission then.

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1 hour ago, Dfx16 said:

Anyone know the diff between the cops on the left and the right? They are in diff uniforms 
 

 

8E2935EA-0057-4DAB-835C-93E258C49C80.png

Left is fire department 

Right is police department 

Should be a joint press conf

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1 hour ago, Civic2000 said:

Don’t know this video has been posted here or not.  The interview conducted by Sebastian Tim in Berlin between Sebastian Tim and a HK student leader.   Tim Sebastian trashed her form start to the end! Ready worth watching

https://www.youtube.com/watch?v=QKS6e31STE0

 

TS choked a few times from the rubbish that got into his ears

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59 minutes ago, Civic2000 said:

Don’t know this video has been posted here or not.  The interview conducted by Sebastian Tim in Berlin between Sebastian Tim and a HK student leader.   Tim Sebastian trashed her form start to the end! Ready worth watching

https://www.youtube.com/watch?v=QKS6e31STE0

 

I believe

 

i believe

 

i believe i can fly

 

i believe i can touch the sky

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4 hours ago, Thaiyotakamli said:

Fight fight

 

hung xin vs tung xin

 

 

The rioters would bully and hammer single men, old folks and women on the streets. Here when both sides are in groups, these rioters loss their courage and retreated. WTF...And I just dont understand some people here can speak up for rioters and find ways and means to blame the HK police. They have lost their righteousness just because the HK authorities has affiliation to PRC. 

Edited by Renegade777
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40 minutes ago, Thaiyotakamli said:

Now use bow and arrow

 

So much fun to defend ur castle (school) against invader (police)

https://www.todayonline.com/world/hong-kong-schools-close-thursday-violence-escalates-protesters-carrying-arrows-and-javelins

Might as well take out the Nurf guns.... When real bullets fly, arrows and petrol bombs not going to make a dent. At least Nurf guns look more sak ki. 

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