All this while I have been writing post for Singapore REITs, today would like to try post for one of the Malaysia REIT - IGB REIT. Malaysia REIT reporting is quite different from Singapore, generally not many would provide a presentation and a lot of information can only be found in the annual reports.
Basic Profile IGB REIT (IGB) is a retail REIT that owns 2 properties in Kuala Lumpur. One is Mid-Valley Megamall and the other is The Gardens Mall.
Key Statistics With market cap at RM 6.5 Billions, IGB is the second largest REIT in Malaysia after KLCC Property Holdings Berhad, which is a stapled group.
Lease Profile Occupancy is high at 99%. WALE (estimated) is slightly short at 1.61 years where the highest least expiry of 39.2% is in this year, as per the latest annual report. Weighted average land lease...