SINGAPORE (Nov 13): Mapletree North Asia Commercial Trust (MNACT) appears to be the latest casualty of the Hong Kong protests, as protestors set the REIT’s anchor asset, Festival Walk, on fire on Tuesday night. 

Festival Walk reportedly suffered “extensive damage” as Hong Kong entered a third consecutive day of chaos. Violence has escalated following five months of unrest, resulting in a night of intense battles between protestors and riot police.

In a regulatory filing before market open on Wednesday, the manager of MNACT says a few groups of protestors had smashed the glass panels at entrances to the property, including the office lobby and balustrades on various levels of the mall, on the night of Nov 12. 

“They also set fire to the Christmas tree within the mall, as well as the office lobby,” the manager says. It adds that the fires were eventually put out, and that there were no report of injuries. 

Amid the escalating city-wide disruptions, Festival Walk, which had shut its doors since 2pm on Nov 12, and will remain closed on Wednesday. 

The manager says it is assessing the damage and will provide an update in due course.

The counter opened 4.1% lower at $1.17 on Wednesday. As at 11.36am, units in MNACT are trading 6 cents lower, or 4.9% down, at $1.16. 

With some 19.8 million shares changing hands, the REIT was also one of the most heavily traded counters on the Singapore Exchange before the mid-day break on Nov 12. 

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