Festival Walk flooding to have 'minimal impact' on Mapletree trust's distributions
Published on Apr 1, 2014 9:16 AM
The flooding of its Festival Walk property in Hong Kong will have "minimal impact" on Mapletree Greater China Commercial Trust's distribution payments to unitholders, the trust's manager said on Tuesday.
Mapletree Greater China Commercial Trust Management had said on Monday that heavy rain the night before had broken the roof of Festival Walk, causing flooding in parts of the property.
In an update on Tuesday, the trust manager said it had investigated the flooding and found that it was due to an "extremely high volume of torrential rainwater from the unexpected thunderstorm".
This caused a section of the building's rainwater discharge pipes to give way, but the pipes have now been repaired, it added.
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