Primewest, RSM partner to help commercial tenants


ASX-listed funds manager and retail landlord Primewest has offered to cover the cost of professional advice for its retail and commercial tenants affected by COVID-19, in a partnership with multinational accounting firm RSM

Under the deal, Primewest will pay for its tenants to access RSM’s expertise to determine whether they are eligible for government stimulus, as well as advice on how to proceed with the application process.

Tenants will also receive assistance to prepare financial information to obtain rent relief under the new commercial tenancy code of conduct.

Primewest director David Schwartz said the company had more than 1,600 tenants in its $1 billion-plus retail portfolio across Australia, many of which are small businesses.

“For us, our philosophy is that a dead tenant is not a good tenant, so we have got to do everything that we can to make sure that they survive,” Mr Schwartz told Business News.

“When you are in a financial bind, the last thing you want to do is go and spend money on accountants and advice, so we’ve said we are prepared to pay and we want to help the small guys through.”

Mr Schwartz said he was not aware of

Eight suggestions from Abhijit Banerjee to revive the Covid-19-hit economy


In a conversation with Congress leader Rahul Gandhi, pointed out several measures, including giving temporary ration cards, a bigger stimulus package and providing cash to India’s poorest 60% to revive the Covid-19-hit economy.

Abhijit Banerjee, co-recipient of the Nobel for economics in 2019, said that the national had indeed played havoc with the economy and suggested that an Aadhar based PDS system should be implemented for poor.

“I think nationalisation of the Aadhaar would have been great now, especially for migrants. They could have gone to a PDS store in Mumbai and demanded ration. But right now they cannot do that..”

2. He said India should waive off loan repayments for small businesses in the June quarter to steer the economy out of the pandemic-induced crisis.

“Government did a right thing in putting a moratorium on debt payments and that it can do more than that by cancelling debt payments for this quarter altogether.”

3. The Nobel laureate also said that the government is not clear how much it is willing to spend on a stimulus package as 1 per cent of is

Wipro to repurpose its Pune facility into a 450-bed Covid-19 hospital


IT services major on Tuesday said it will repurpose one of its offices in Pune into a 450-bed intermediary care Covid-19 hospital. The process will be completed in four weeks and the IT firm will hand over the facility to the Maharashtra government by May 30.

The Azim Premji-promoted firm has signed a pact with the Maharashtra government to repurpose its office facility at Hinjewadi, a major IT hub in the city. The hospital will be converted back to an IT facility after a year.

The 450-bed hospital, to be equipped to treat moderate cases, will include 12 beds to stabilise critical patients before shifting them to a tertiary care facility. This is an independent, isolated Covid-19 dedicated complex that also includes 24 well-appointed rooms to accommodate doctors and medical staff, the company said.

ALSO READ: Cognizant to acquire US-based cloud player Collaborative Solutions

The IT firm also said it would provide required physical infrastructure, medical furniture and equipment, besides appointing an administrator and skeletal support staff to help operationalise the hospital quickly with the required medical professionals.

“We are completely committed to supporting

Subscribe Now