[%osOz%] 
Research by TA
Buy – TP of MYR 1.14

“Acquiring DPulze Shopping Centre for RM320mn” 

KIP REIT has proposed to acquire DPulze Shopping Centre for RM320mn. Separately, the trust has proposed to undertake a placement of new units up to 180mn to raise up to RM146.7mn to part finance the proposed acquisition. We are optimistic about this acquisition because it aligns with its goal to scale up operations and increase total asset under management to RM2.0bn in the next three years. We leave our earnings forecasts unchanged, pending finalisation and relevant approvals for the proposed acquisition and private placement exercise. Maintain Buy with an unchanged TP of RM1.14/unit based on a target yield of 6.75%.

Analyst(s):
Thiam Chiann Wen
[%YZWt%]

$KLSE-KIPREIT 
Research by TA
Buy – TP of MYR 1.14

“Acquiring DPulze Shopping Centre for RM320mn” 

KIP REIT has proposed to acquire DPulze Shopping Centre for RM320mn. Separately, the trust has proposed to undertake a placement of new units up to 180mn to raise up to RM146.7mn to part finance the proposed acquisition. We are optimistic about this acquisition because it aligns with its goal to scale up operations and increase total asset under management to RM2.0bn in the next three years. We leave our earnings forecasts unchanged, pending finalisation and relevant approvals for the proposed acquisition and private placement exercise. Maintain Buy with an unchanged TP of RM1.14/unit based on a target yield of 6.75%.

Analyst(s):
Thiam Chiann Wen
cwthiam@ta.com.my

$KIPREIT / 5280 (KIP REAL ESTATE INVESTMENT TRUST)