Sentral REIT expected to record flattish earnings

TheStar Thu, Jan 21, 2021 09:40am - 3 years View Original


Kenanga Research said Sentral REIT would, in 2021 and 2022, see minimal lease expiries of 21% and 14% of net lettable assets respectively, while the issue of oversupply of office spaces in the Klang Valley remains.

PETALING JAYA: Sentral Real Estate Investment Trust (REIT), formerly MRCB-Quill Reit, is likely to see flattish year-on-year earnings growth in 2021 and 2022, given minimal lease expiries and its track record of low single-digit positive reversions.

Kenanga Research said Sentral REIT would, in 2021 and 2022, see minimal lease expiries of 21% and 14% of net lettable assets respectively, while the issue of oversupply of office spaces in the Klang Valley remains.

“Positively, the group has renewed 85% of the 19% of leases up for renewal in 2020 while asset occupancy remains stable at 90%.

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