Many office properties are grade B or C (Most of their properties were built in the 90s, and they sell at higher prices to the fund). For example, Menara Tan & Tan is a super old building, but the market value is RM183 million, according to them. To sustain (or 3 or 3.5 cents) DPU, the company needs to have at least 80 million Free cash flow after paying out the interest rate fees. The fund properties need to provide at least 120 million NPI per year. Given that many businesses opt for the hybrid mode and the WFH model, I am slightly pessimistic about the fund's ability to sustain such an NPI rate in the long run. I reviewed their property portfolio on their website; many properties are super old and lackluster. I wouldn't work in such an office if my company were in this building.