Source: Sin Chew Daily
IGB-REIT net profit up 21% to RM83mil on rental income
PETALING JAYA: IGB Real Estate Investment Trust’s (REIT) net profit rose 20.8% to RM83.1mil in the third quarter ended Sept 30, from RM68.8mil in the corresponding period last year. The owner of the Mid Valley Megamall and The Gardens in Kuala Lumpur attributed its earnings growth to higher rental income and write-back of step-up interest arising from the fixed rate term loan which was fully settled in the current quarter. During the quarter under review, IGB-REIT saw its revenue increase […]
The success story of IGB Reit
In the retail mall real estate investment trust (Reit) space, IGB Reit stands out for a few reasons. Its shares trade at the highest price-earnings (PE) multiple among its peers indicating strong investor interest. It offers a decent dividend yield of 5% and has managed to grow its earnings in its latest quarter against a backdrop of a slight decrease in earnings of its peers. Read more
IGB REIT’s 9M earnings driven by positive rental reversions
This article first appeared in The Edge Financial Daily, on October 27, 2016. Maintain hold call with an unchanged target price of RM1.62: IGB Real Estate Investment Trust’s (IGB REIT) third quarter of financial year 2016 revenue and core net earnings grew 4.1% and 5.6% year-on-year (y-o-y) to RM125.9 million and RM68.8 million respectively. This brought its nine-month financial year ending 2016 (9MFY16) core earnings to RM207.5 million (+3.3% y-o-y), which was mainly driven by positive rental reversions, backed by […]
