SINGAPORE (June 23): The impact of the novel coronavirus (Covid-19) pandemic on the local real estate investment trust (REIT) sector is expected to bottom out in 2Q, according to RHB Securities.

The brokerage expects the impact from rental rebates and deferrals on the earnings of REITs during the Circuit Breaker (CB) period to flow through during the quarter.

While REITs are likely to remain cautious amidst fluid market conditions by retaining a portion of distributable income like in 1Q, the earlier-than-anticipated opening of CB Phase 2 has brought in some cheer.

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