MRMA chair and Axis REIT Managers Bhd chief executive officer Leong Kit May said that M-REIT commercial sub-sectors were bolstered by proactive government policies such as the 30-day visa exemption for China and India visitors.
Shares of WCT have more than doubled so far this year, tracking strong gains in the construction sector, and partly boosted by news of the planned REIT listing in recent months.
This is going to be the second REIT to be controlled by billionaire tycoon Tan Sri Desmond Lim Siew Choon, after Pavilion REIT.
Rate cuts in the US have been mostly positive for the FBM KLCI with a median return of 8% over a 12-month period after a US rate cut, Kenanga said in a note.
The AEI encompasses an addition of a 51,000 sq ft area to facilitate a new anchor tenant — ST Rosyam Mart — modernising retail outlets, mall entrance renovations, air-conditioning system enhancement and firefighting system upgrade.
"Earnings for retail REIT will continue to be supported by positive rental reversion as the retail industry remains buoyant with strong shopper footfalls at malls," said MIDF, which has six REITs under its coverage.
The proposed placement involves up to 15.
In a bourse filing on Thursday, the trust said Pacific Trustees Bhd, acting as its trustee, has entered into four separate sale and purchase agreements (SPAs) for the acquisitions.
The group’s Suria KLCC and the retail podium of Menara 3 Petronas, which represent the retail segment, recorded notable increases of 8% and 11% in quarterly revenue and profit before tax respectively.
The REIT's trustee, RHB Trustees Bhd, has entered into agreements to buy the assets located in the Pulau Indah Industrial Park from Malconrep Depot (M) Sdn Bhd and Dayang Mewah Sdn Bhd, according to a bourse filing on Wednesday.
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