Shares & Derivatives
8 things I learned from the 2021 IGB REIT AGM
By The Fifth Person  •  July 9, 2021
Listed in 2012, IGB REIT is a retail REIT that owns two popular shopping malls in the Klang Valley, namely Mid Valley Megamall and The Gardens Mall. The two malls are frequented mostly by locals and depend less on tourists. Hence, they are less affected by the COVID-19 pandemic compared to other retail-focused REITs like Pavilion REIT. Although our lifestyle has been significantly altered by the virus, the locals still yearn for the freedom to shop, dine in, and lepak (hang out and chill) at our favourite shopping malls. This is seen from the large crowd sizes in malls during the weekend every time the government eases safety measures. Here are eight things I learned from the 2021 IGB REIT AGM. 1Gross revenue reduced by 15.7% year-on-year to RM465.2 million in 2020. Likewise, distribution per unit dropped by 26.3% from 9.16 sen in 2019 to 6.75 sen in 2020 because of the rental support amounting...
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By The Fifth Person
The Fifth Person believes in spreading a message that financial literacy and sound investment knowledge can help people around the world achieve financial independence and lead better lives for themselves and their loved ones.
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