Lippo Karawaci, the anchor tenant and master lease of First REIT’s hospitals made a surprised announcement on Monday, 01-Jun-2020 with the press release entitled Covid-19 Renders Rental Subsidies Unsustainable; LPKR To Initiate Restructuring Discussions On Leases With First REIT. The relevant part of Lippo Karawaci’s announcement is reproduced below for the convenience of readers:
- Quote: “COVID-19 has significantly impacted Siloam's revenues and led to a drastic decline in patient volumes across Indonesia. Under the current rental structure, LPKR provides a rental