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Singapore property firms shut China malls, announce early closures over Wuhan virus

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The supermarkets in CapitaMall Westgate in Wuhan (pictured) and CapitaMall Xindicheng in Xian remain open to ensure the supply of food and daily essentials to local communities, said CapitaLand.

SINGAPORE-LISTED property firms including real estate behemoth CapitaLand have temporarily closed, shortened the hours, or shut certain businesses at their malls in China, as precautionary measures amid the rapidly spreading Wuhan virus.

In a regulatory filing on Wednesday morning before the market opened, CapitaLand said it has closed six malls in China - four in Wuhan and two in Xian - as required by local governments following the outbreak.

The supermarkets in CapitaMall Westgate in Wuhan and CapitaMall Xindicheng in Xian remain open to ensure the supply of food and daily essentials to local communities, CapitaLand added.

According to data from the Singapore Exchange's research team, 42 per cent of CapitaLand's revenue comes from China. 

Meanwhile, revenue streams for both Dasin Retail Trust and Sasseur Reit (real estate investment trust) hail entirely from China. 

Dasin Retail Trust on Tuesday night said it has shortened the business hours at its five malls in China, and temporarily closed crowded places in the malls, such as cinemas, karaoke lounges, ice skating rinks and bookstores.

Likewise, Sasseur Reit on Tuesday also noted that it has temporarily closed the trust's four outlet malls in China

As at 11.04am on Wednesday, CapitaLand shares were trading at S$3.69, down one Singapore cent, or 0.3 per cent, and units in Dasin Retail Trust shed 0.5 Singapore cent, or 0.6 per cent to S$0.83.

Separately, units in Sasseur Reit were up two Singapore cents, or 2.6 per cent to S$0.805, after the counter sank nine cents, or 10.3 per cent overnight. 

Shares of other Singapore-listed companies with exposure to China were also hit on Tuesday, with travel-leisure plays among the stocks most badly hit.