Mapletree North Asia Commercial Trust (MNACT) is an SGX-listed REIT with retail and office properties in prime locations in China, Hong Kong, and Japan. On the back of sound fundamentals, MNACT seemed poised for further growth until its once-crown jewel Festival Walk mall got badly damaged by Hong Kong protestors in November 2019. (Festival Walk contributed to about 60% of MANCT’s revenue in FY19/20). As Festival Walk was restored and poised to open its doors again in the new year, COVID-19 struck soon after. Coupled with the pandemic that originated in China, MNACT’s market performance has thus been bleak. I wanted to find out how MNACT intends to deal with these challenges, so I attended its 2020 virtual AGM. Unfortunately (or otherwise), the AGM left me with more questions than answers. So here are seven things I learned from Mapletree North Asia Commercial Trust’s 2020 AGM: 1. MNACT’s financials were disappointing in FY19/20. Gross revenue and net property income...