Source: https://www.businesstimes.com.sg/companies-markets/lippo-karawaci-initiates-restructuring-of-rental-support-to-first-reit
What a timely article! First REIT has dropped by almost 10% since market opened. This article shed more light on the rental agreement, where Lippo Karawaci acts as a support to Siloam Hospitals to pay off its rents to First REIT.
Indeed, this rental is unsustainable, but I did not expect things to erupt this quickly. I have explained previously in this article - https://www.llamafinance.com/2020/05/are-you-sure-your-reits-dividend-is.html.
For those that have invested in First REIT, I do not have any great advice. Only thing I feel we can do is to diversify portfolio amid the COVID crisis....