Equity Analysis /
Malaysia

MY : Sunway REIT - Sunnier outlook starting 1QFY22

    Sharizan Rosely
    Sharizan Rosely

    Construction and Infrastructure

    CGS-CIMB
    18 May 2022
    Published by

    1QFY22 results were above expectations; core net profit surged 116% yoy. Retail malls’ performance returned to pre-pandemic levels, with marginally positive rental reversions; hotel segment’s further recovery will be gradual. Retain Hold rating with higher TP (FY22-24F dividend yields of 4.4-5.1%).