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Al-Salam REIT's Crown Jewel in Johor

Azman Hussin, RHB Research

08-Nov-16 09:20

Al-Salam REIT's Crown Jewel in Johor

Listed in Nov 2015, Al-Salam REIT's share price has been on an uptrend, returning 15% YTD. Its prime asset, Komtar JBCC, is a shopping mall that could see strong growth potential and higher occupancies with massive redevelopments in Johor Bahru. However, concerns of an over-reliance on the mall may arise, as it contributes to more than 50% of the REIT's revenue. Potential asset injections may be a catalyst for earnings through its sponsor Johor Corp which owns substantial amount of hospitality assets. 


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Tags:  Malaysian equities,  MREITs,  JCorp,  shopping mall glut,  Komtar JBCC


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