Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
Post a Comment

IGB REIT Downgraded to ‘Hold’ After 22% Rally, Analysts Eye Limited Upside

IGB REIT’s impressive 22% surge this year has prompted analysts to downgrade the REIT to a 'hold' rating, despite slightly higher fair value targets for the Mid Valley Megamall and The Gardens Mall operator.

AmInvest and Maybank Investment Bank (Maybank IB) highlighted that IGB REIT’s valuation now appears stretched compared to peers like Sunway REIT and Pavilion REIT. The unit price of IGB REIT, currently trading at nearly two times net asset value (NAV), contrasts with competitors hovering just over one time NAV.

“We see limited upside potential after the stock’s strong rally," Maybank IB said, noting that they had not factored in potential new assets into their forecasts. Both firms anticipate IGB REIT’s next growth catalyst will be the acquisition of Mid Valley Southkey Mall in Johor Bahru, a fully occupied property expected to see rental renewals in 2025.

AmInvest raised its fair value to RM2.28 from RM2.11, citing lower cost of capital assumptions, while Maybank IB bumped its target price to RM2.22 from RM2.15 after adjusting its valuation years.

Despite the strong rental income growth from Mid Valley Megamall and The Gardens Mall—with average gross monthly rental rising 13.5% and 1.4% year-on-year, respectively—analysts feel the REIT’s rally has peaked for now. On Tuesday, IGB REIT units dropped 3.21% to close at RM2.11, valuing the REIT at RM7.62 billion, with a historical dividend yield of 4.96%.

Labels:

Comments

Post a Comment

Popular posts from this blog

INTC Share Watch and News

Stock Info Market Monitor Company Profile Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also offers system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. It also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and products designed for desktop, server, and workstation platforms; and wired and wireless connectivity products, including network adapters and embedded wireless cards used to translat
1 comment
Read more

3M Raises Profit Forecast After Beating Quarterly Estimates on Electronics Demand

3M Co raised the lower end of its full-year adjusted profit forecast after strong demand for electronics and industrial products helped the company surpass quarterly profit expectations. Shares of 3M were up 4.2% at $140.5 in pre-market trading. An increase in demand for electronics used in vehicles and mobile phones boosted profits for the company, which had previously faced challenges as high inflation led consumers to delay major purchases. The industrial sector is also expected to benefit from the recent US Federal Reserve decision to cut borrowing costs in September, encouraging more consumer spending. 3M has implemented cost-cutting measures, including job reductions and spinning off its healthcare business, to counter the impact of a demand slowdown . Key highlights from the report: Sales in the transportation and electronics segment grew 1.8% year-on-year. Sales in the safety and industrial segment , which produces adhesives for industrial use, increased by 0.5% . 3M&
Post a Comment
Read more

A Trader’s Guide to Navigating Malaysia's Budget 2025

Malaysia’s consumer and construction stocks are poised to benefit from Budget 2025 , as Prime Minister Datuk Seri Anwar Ibrahim is expected to introduce measures aimed at lowering the cost of living and unveiling infrastructure projects . As both Prime Minister and Finance Minister, Anwar will likely announce targeted cash transfers , civil servant salary hikes , and potential revisions to the minimum wage to boost disposable incomes, supporting retailers like AEON Co and Padini Holdings . In the construction sector, analysts expect the budget to include new projects such as the Mass Rapid Transit Line 3 and Pan Borneo Highway , with companies like Gamuda , Sunway Construction , and IJM Corp set to benefit. There could also be updates on the Johor-Singapore High-Speed Rail and cross-border economic zones, reigniting interest in the sector. The government’s commitment to growing semiconductor industries may lead to support measures for data center developers like YTL Power Int
Post a Comment
Read more