KUALA LUMPUR: IGB Real Estate Investment Trust
(REIT) expects the current sluggish economic and business conditions to result in a material adverse impact on its financial performance this year.
“Despite the grim outlook and many challenges ahead, IGB REIT is determined to stay resilient throughout the Covid-19 pandemic, ” it said.
IGB REIT, the owner of the Mid Valley Megamall and The Gardens Mall, posted steep declines in revenue and earnings in the second quarter ended June 30.
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