Bursa Malaysia Stock Watch

Pavilion REIT (Hold): Asset enhancement for the longer term

kltrader
Publish date: Fri, 20 Jan 2012, 10:14 AM
kltrader
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Positive asset enhancement. We are positive on Pavilion REIT's (PREIT) latest asset enhancement initiatives in transforming the existing TANGS Fashion Lifestyle Store area (68,000 sqft NLA or 5% of Pavilion Mall's total NLA) into a new high street fashion precinct, which will enhance the rental yield. Significant contributions should come in from 2013 onwards. No change in our earnings forecasts for now. Our DCF-based TP is unchanged at RM1.10. Hold.

Maybank research (20 January 2012)

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