JAKARTA. The number of visits to a number of malls owned by PT Pakuwon Jati Tbk (PWON) fell by around 25-30% after the announcement of the coronavirus (Covid-19) outbreak in Indonesia. As a result, some of the tenants of PWON's malls asked for a discount on the rental fee.
Robin Sutanto, the analyst of Mandiri Sekuritas, said that PWON has not yet decided the discount for tenants.
"The company notes that the contract with the tenants did not mention any discount, so the discount will still be negotiated," Sutanto explained after holding a teleconference with Ivy Wong, Director of PWON.
Nevertheless, PWON still managed to achieve its target so far. Presales in the first quarter (Q1 2020) are estimated to reach Rp 400 billion, or around 24% of the 2020 target of Rp1.7 trillion. (KR/AR)