Bursa Malaysia Stock Watch

AmanahRaya REIT (Buy): No suprises

kltrader
Publish date: Thu, 01 Dec 2011, 07:45 PM
kltrader
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Maintain Buy. AAREIT's 9M11 net profit of RM32.2m (+2% YoY) was 76% of our full-year earnings forecast (in line). YTD DPU of 5.3 sen was also in line to meet our 2011 DPU forecast of 7.0 sen. We continue to like AAREIT for its long term lease agreements with 42.7% (2012) and 35.2% (2013) by NLA up for rental review with the existing tenants. We maintain our Buy call and DCF-based TP of RM0.95.

Maybank research (1 December 2011)

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