Isetan Singapore

[thefarside]

History might provide some hints to your question. 8 years ago, Isetan minorities fought for their Section 44 tax credits, by attempting to oust the ID's. Some related articles are archived here:

http://www.myinvestmentforum.com/categor...48-25.html

They (management) could have quite easily retained status quo - given that the Wisma Store incurs no direct occupancy costs (opportunity costs - yes). So there are other drivers, and suggests that past historical behaviour may not be a good indicator this time round. Interested to hear your views - if you are willing to give. Cheers.