Maintain HOLD. The disposal of Wisma UEP was expected, in line with ARREIT's plan to streamline its property portfolio. We are positive on the deal given its good pricing and potential capital redeployment into better-yielding assets. More importantly, the disposal would release ARREIT from incurring maintenance costs of MYR113k/month. No change in our core profit forecasts. We maintain a HOLD on ARREIT, with an unchanged MYR0.95 target price.

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Source: Maybank Research - 27 June 2012