The COVID-19 pandemic in many ways is unprecedent and without a doubt it has a pronounced effect on the stock market. It has halted the longest lasting equity bull market. For REITs, it has also challenged the long held perception among investors that REITs are safe investment vehicles as they are mandated to pay out at least 90% of their taxable income as dividends to achieve tax transparency. In May 2020, as all of the retail REITs have provided rental reliefs for the tenants. 4 of the retail REITs consequently cut their Distribution Per Unit (DPU) by 49% to 78%. 5 Retail REITs Cut Dividends By 20% To 78% (read here) In 2020, for the first time, S-REITs dropped 367.98 points which translate to a huge 37.91% collapse as the FSTE REIT Index crashed from 970.62 on 19 Feb 20 (Wed) to 602.64 on 23 March 20 (Mon), over...