Higher FY20 profit expected for Sunway REIT

Maintain buy with a lower target price (TP) of RM2: Sunway Real Estate Investment Trust’s (REIT) management targets to grow its property value to RM13 billion to RM15 billion by financial year 2025 (FY25), from RM8 billion at end-FY19, and diversify its asset base by increasing the allocation for service and industrial assets.