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Research by Kenanga
Market Perform – TP RM1.69

“Eyes on Sunway Carnival Mall"

SUNREIT’s 1HFY24 results met expectations. Its core net profit grew by a marginal 1% YoY as new income streams were largely offset by earnings gap arising from the disposal of Sunway Medical Centre. 2Q rental reversion for Sunway Carnival Mall was impressive coming in at above 10%. We keep our forecasts, TP of RM1.69 and maintain our MARKET PERFORM call.

Analyst:
Chris Tong 
[%KHMs%]

$KLSE-SUNREIT
Research by Kenanga
Market Perform – TP RM1.69

“Eyes on Sunway Carnival Mall"

SUNREIT’s 1HFY24 results met expectations. Its core net profit grew by a marginal 1% YoY as new income streams were largely offset by earnings gap arising from the disposal of Sunway Medical Centre. 2Q rental reversion for Sunway Carnival Mall was impressive coming in at above 10%. We keep our forecasts, TP of RM1.69 and maintain our MARKET PERFORM call.

Analyst:
Chris Tong 
christong@kenanga.com.my

$SUNREIT / 5176 (SUNWAY REAL ESTATE INVESTMENT TRUST)