IGB REIT's Shares Up After Posting Positive 2Q Results
KUALA LUMPUR, July 30 (Bernama) -- IGB Real Estate Investment Trust’s (IGB REIT) shares rose in early trade on Wednesday after posting stronger earnings for the second quarter (2Q) ended June 30, 2025.
At 10.39 am, the counter gained four sen to RM2.78, with 1.80 million shares changing hands.
In a filing with Bursa Malaysia on Monday, IGB REIT reported a net profit of RM92.51 million for the quarter, up from RM81.55 million a year earlier.
Revenue rose to RM160.09 million from RM149.97 million previously, driven mainly by higher rental income.
In a note, Kenanga Investment Bank Bhd foresees the injection of Mid Valley Southkey in Johor Bahru into IGB REIT’s portfolio as highly yield-accretive, allowing the group to tap into Johor’s booming economy.
The group announced the acquisition of Mid Valley Southkey Mall from its sponsor, IGB Bhd, last month.
“The acquisition also offers geographical diversification to IGBREIT’s predominantly Kuala Lumpur-centric portfolio, while allowing the group to tap into Johor’s booming economy with the developments of Johor- Singapore Special Economic Zone and the Johor Bahru–Singapore Rapid Transit System Link,” it said.
-- BERNAMA