IGB REIT [%eUiA%] 
HLIB Research 
BUY (Maintain); Target Price: RM1.89; Capital upside 13.2%

Steady at the midway mark

IGB REIT’s 1H18 core net profit of RM152.4m (+6.5% YoY) was within both ours and consensus expectations. Overall, the increment in 1H was supported by higher rental income received and lower property operating expenses incurred. We retain our forecast and maintain our BUY call with unchanged TP of RM1.89. We continue to like IGBREIT for its concentrated prime assets, sustainable tenant sales growths and rental reversions.

Farah Diyana Kamaludin
[%Vyus%]
(603) 2083 1719


IGB REIT $KLSE-IGB 
HLIB Research 
BUY (Maintain); Target Price: RM1.89; Capital upside 13.2%

Steady at the midway mark

IGB REIT’s 1H18 core net profit of RM152.4m (+6.5% YoY) was within both ours and consensus expectations. Overall, the increment in 1H was supported by higher rental income received and lower property operating expenses incurred. We retain our forecast and maintain our BUY call with unchanged TP of RM1.89. We continue to like IGBREIT for its concentrated prime assets, sustainable tenant sales growths and rental reversions.

Farah Diyana Kamaludin
farahdiyana@hlib.hongleong.com.my
(603) 2083 1719
