[%Qzzt%] 
Research by AmInvest
BUY - TP RM 1.26

"Acquires Hotel Syeun for RM55mil"

We maintain BUY on YTL Hospitality REIT (YTL REIT) with a higher fair value (FV) of RM1.26/unit (from RM1.11/unit previously) after reducing the 3-year beta in the equity cost for our revised WACC of 7.6%, reflecting improving sentiments in both the Malaysian and Australian hospitality segments (Exhibit 7). No changes to our neutral 3-star ESG rating (Exhibit 8). 

 The FV implies a FY25F distribution yield of 7%, at parity to its pre-pandemic (2018-2019) median. 

Analyst:
Khoo Zing Sheng
[%BOdP%]

$KLSE-YTLREIT 
Research by AmInvest
BUY - TP RM 1.26

"Acquires Hotel Syeun for RM55mil"

We maintain BUY on YTL Hospitality REIT (YTL REIT) with a higher fair value (FV) of RM1.26/unit (from RM1.11/unit previously) after reducing the 3-year beta in the equity cost for our revised WACC of 7.6%, reflecting improving sentiments in both the Malaysian and Australian hospitality segments (Exhibit 7). No changes to our neutral 3-star ESG rating (Exhibit 8). 

 The FV implies a FY25F distribution yield of 7%, at parity to its pre-pandemic (2018-2019) median. 

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