Mapletree Pan Asia Commercial Trust ("MPACT") posted a 2.6% decline in distribution per unit to S$0.019 for 4th quarter ended March 2026 on the back of a sharp drop of revenue by 5.5% (from S$222.9Mil to S$210.7Mil). As usual, the overseas properties of MPACT such as Festival Walk shopping mall continued to be affected by the loss of consumers to the new shopping haven in Shenzhen which is just less than 30mins of travelling  time via the Express Rail Link. Interestingly, recently, while my Hong Kong Boss (he's a business tycoon with wide business networking in China, HK & Australia) was on a business trip to Singapore, he remarked to me that everyone in Hong Kong now goes to Shenzhen frequently as it is extremely convenient. There are cheap SPA, foot massages, value for money food and grocery available in Shenzhen hence these adversely affect Hong Kong which is facing