SINGAPORE – Viva Industrial Trust said on Sunday night (April 23) that facilities manager Jackson International Pte Ltd, which provides rental income support to Viva for Jackson Square, a light industrial building in Toa Payoh, has filed for liquidation.
Viva does not expect the matter to have a material impact on its financials or distributions for the year ended Dec 31, 2017.
This is primarily due to a rental support bank guarantee of about S$3.87 million, a mortgage on a building that functions like an escrow account for Viva.
Viva’s guidance is also based on the assumptions that the property operating expenses in respect of Jackson Square do not increase significantly above S$2 million a year, and that no tenants other …
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