When Mid Valley Megamall started operations in Malaysia in 1999, it introduced the new retail concept of the ‘megamall’ by incorporating together the best in retail, food, and lifestyle offerings under one roof. The concept has proven to be a mega-success (pun intended) and adapted by many other malls in Malaysia since.
The owner of Mid Valley Megamall, IGB REIT, has seen its share price perform relative well over the last few months even though many Malaysia retail REITs have been badly affected due to rising interest rate, a soft retail market, and the upheaval caused by the recent Malaysian elections. As of 26 June 2018, IGB REIT’s share price is trading at RM1.65 — a 50% premium above its net asset value (NAV) per share of RM1.06 as at 31 December 2017.
IGB REIT owns two prime properties located in the strategic area of Klang Valley: ......