Mapletree Greater China Commercial Trust (SGX: RW0U) (MGCCT) is a REIT that invests in income-producing properties in the Greater China region. It currently has three properties in its portfolio: Festival Walk, a retail mall with an office component located in Hong Kong; Gateway Plaza, a premier Grade-A office building located in Beijing; and Sandhill Plaza, a premium business park located in Shanghai.
Reports of China’s slowing economy hit the news the past year with the country’s GDP growth rate falling from 7.5% in 2012 to 6.7% in 2016. With MGCCT expressly focused on the greater China region, how will China’s slowdown affect the REIT’s performance and what is the management’s plan to navigate the trickier times ahead? I attended the FY2016 annual general meeting to find out more.
The first thing I learned was that Chairman Frank Wong would be stepping down from his role and be replaced ......