Malaysian retailers recorded the worst performance in 2020 in the past two decades because of movement restrictions imposed by the government to curb the pandemic. As landlords, REITs were also not spared as they handed rental waivers and rebates to their tenants. Footfall to prime shopping malls like Pavilion Kuala Lumpur Mall plummeted in the first few months when the Movement Control Order (MCO) was implemented in Malaysia. The atmosphere of the recent Pavilion REIT AGM I attended was gloomy as the management explained what it was doing to pull through the crisis. Here are six things I learned from the 2021 Pavilion REIT AGM: 1. Gross revenue dropped by 12.8% year-on-year to RM510.2 million in 2020. This was due to revenue losses from lower occupancy rates of malls as some tenants decided not to renew their tenancies. Revenue from turnover rent, marketing events, advertising income, and car park income...