$ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST)
Research by Maybank
Hold - TP of MYR0.45

"4Q23 earnings in line"

FY23 results were within expectation at 101% of our estimate. We adjust FY24/25E net profit by +1%/-2%, but maintain our DDM-TP of MYR0.45 (Ke: 9.9%, LTG: 1%). Maintain HOLD. For retail REIT, we prefer Pavilion REIT (PREIT MK, CP: MYR1.34, BUY, TP: MYR1.47).

Analyst(s):
Nur Farah Syifaa
nurfarahsyifaa.mohamadfuad@maybank-ib.com