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Research by Ambank
Buy (Maintain) – Target Price RM1.23

“Stable occupancy rate in FY23”

We maintain BUY on UOA REIT with a lower fair value (FV) of RM1.23/unit (from RM1.32/unit previously) based on our revised dividend discount model (DDM). Our FV has incorporated a neutral 3-star ESG rating (Exhibits 8 & 9) and implies a FY25F distribution yield of 7%, at parity with its 5- year median.

Analyst:
Khoo Zing Sheng 
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$KLSE-UOAREIT 
Research by Ambank
Buy (Maintain) – Target Price RM1.23

“Stable occupancy rate in FY23”

We maintain BUY on UOA REIT with a lower fair value (FV) of RM1.23/unit (from RM1.32/unit previously) based on our revised dividend discount model (DDM). Our FV has incorporated a neutral 3-star ESG rating (Exhibits 8 & 9) and implies a FY25F distribution yield of 7%, at parity with its 5- year median.

Analyst:
Khoo Zing Sheng 
khoo.zing-sheng@ambankgroup.com

$UOAREIT / 5110 (UOA REAL ESTATE INVESTMENT TRUST)