IGB REIT [%kjFF%] 
Research by Kenanga
UNDERPERFORM ↔; Target Price : RM1.45 ↔

1H18 Within Expectations 

1H18 realised net income (RNI) of RM152.4m came in within consensus (48%) and our expectation (50%). 1H18 GDPU of 4.62 sen was also within (48%). We make no changes to FY18-19E CNP of RM304-312m. Going forward, we expect low-to-mid single-digit reversions. Maintain UNDERPERFORM and TP of RM1.45.

Marie Vaz 
[%oDzs%]

IGB REIT $KLSE-IGB 
Research by Kenanga
UNDERPERFORM ↔; Target Price : RM1.45 ↔

1H18 Within Expectations 

1H18 realised net income (RNI) of RM152.4m came in within consensus (48%) and our expectation (50%). 1H18 GDPU of 4.62 sen was also within (48%). We make no changes to FY18-19E CNP of RM304-312m. Going forward, we expect low-to-mid single-digit reversions. Maintain UNDERPERFORM and TP of RM1.45.

Marie Vaz 
msvaz@kenanga.com.my