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M-REIT shares to stay resilient as a defensive portfolio

KUALA LUMPUR (July 31): Shares of Malaysian real estate investment trusts (REIT) are expected to stay resilient as a defensive portfolio against global market volatility.

AmInvestment Management Sdn Bhd chief investment officer Andrew Wong said a low interest environment could spur demand for REIT shares as investorrs chase these stocks' dividend yields.

"We are comfortable with Malaysian retail properties but neutral on the office market," Wong said on Tuesday.

Wong said AmInvestment’s neutral recommendation for the office market is by virtue of an oversupply of office space in prime commercial areas in the country.

The situation has curbed office rental rates in the area, according to him.

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