KUALA LUMPUR, March 23 — Sunway Malls are granting RM20 million rent-free to its non-essential trade retailers for the 14-days period of the movement control order (MCO).
Sunway Malls and Theme Park chief executive officer HC Chan said that the mall group will also undertake steps to ease credit control for retailers during this difficult period.
“The global scale of this outbreak is both unprecedented and uncharted. At times like these, everyone is losing. Each of us has the responsibility to shoulder and share the pain.
“This grant is expected to bring a certain degree of comfort and relief to Sunway Malls’ affected retailers,” he said in a statement today.
Chan said that non-essential trade, which is mandated to cease trading during the ban covers fashion, home furnishing, entertainment, leisure outlets and so on.
“Sunway Malls have taken cognisance of the impact of the order has for non-essential trade retailers due to the mandatory trading cessation of 14 days.
“For non-essential trade retailers, the current situation puts a tremendous strain on revenue and cash-flow,” he said.
Retailers who stand to benefit from the rent-free scheme include tenants at Sunway Pyramid, Sunway Velocity, Sunway Carnival, Sunway Putra, Sunway Big Box Retail Park, Sunway Giza, and Sunway Citrine, of which Sunway Pyramid, Sunway Carnival and Sunway Putra are under Real Estate Investment Trust (REIT).
“While we support the government decision on the MOS as the national top priority to reign in on the virus outbreak and protect the safety of the community, the mall group also believes that the long-term sustainability of our business partners is also an important facet,” said Chan.
He added that Sunway Malls are still monitoring the situation closely and reviewing the developments as it unfolds.
Last Monday, Prime Minister Tan Sri Muhyiddin Yassin announced the enforcement of MCO from March 18 to March 31 to curb the spread of the Covid-19 disease.
