Companies & Markets - Featured - Local - November 16, 2020

FMHL appreciates macro-economy policies

FIRST Mutual Holdings Limited (FMHL) yields positive results despite the outbreak of COVID-19 which has affected the operations of various companies.

In a statement, FMHL said that they welcome the move by the government to relax operating hours as it has improved revenue generation.

“Collections improved during the period to 84% as the business actively engaged tenants with arrears,” reads the statement.

“Transactions within the property market continue to be concentrated around the sector though commercial transactions activity remains subdued due to constrained local currency liquidity.”

However, development activity remains low because of price volatility and weak demand for space.

“Revenue for the quarter increased by 674% compared to the same period in the prior year developed by rent reviews, turnover rentals, and the occupancy level rising to 88% mainly attributable to net lettings.”

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