New Century REIT looks set to discard interim distribution amid falling rents


Amid difficult operating conditions, Hong Kong-listed New Century REIT looks set to discard interim distributions for its 1H 2020.

The conditions have arisen largely due to the COVID-19 pandemic, said the REIT.

The China-focused hospitality REIT owns a portfolio of five 5-star hotels, and one 4-star hotel across the country.

These properties were mostly non-operational during the nationwide COVID-19-related lockdowns that gripped China between February and June 2020.

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