SINGAPORE (Nov 14): OCBC Investment Research is maintaining its “buy” call on Mapletree North Asia Commercial Trust (MNACT) despite “extensive damage” to its anchor asset Festival Walk mall in Hong Kong.
Protestors overran the mall located in the Kowloon Tong area on Nov 12. There were no reported injuries. However, the Singapore-based REIT’s manager says the rioters smashed the glass panels at entrances to the property and balustrades on various levels of the mall. They also set fire to a Christmas tree located in the atrium and an office lobby.
See: MNACT falls 4.9% as Hong Kong protestors torch key asset Festival Walk