Major Estimate Revision • May 06
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from RM265.3m to RM274.6m. EPS estimate increased from RM0.04 to RM0.046 per share. Net income forecast to grow 8.0% next year vs 6.5% growth forecast for REITs industry in Malaysia. Consensus price target up from RM0.68 to RM0.71. Share price was steady at RM0.60 over the past week. Declared Dividend • May 01
First quarter dividend increased to RM0.013 Dividend of RM0.013 is 24% higher than last year. Ex-date: 13th May 2026 Payment date: 29th May 2026 Dividend yield will be 7.4%, which is higher than the industry average of 5.2%. Reported Earnings • Apr 04
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: RM0.04 (up from RM0.026 in FY 2024). Revenue: RM259.9m (up 13% from FY 2024). Net income: RM95.5m (up 52% from FY 2024). Profit margin: 37% (up from 27% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 30
IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 29, 2026 IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 29, 2026, at 16:00 Singapore Standard Time. Location: the gardens ballroom, level 5, st. giles mid valley kuala lumpur, mid valley city, lingkaran syed putra, 59200 kuala lumpur Malaysia Declared Dividend • Jan 30
Fourth quarter dividend of RM0.011 announced Shareholders will receive a dividend of RM0.011. Ex-date: 11th February 2026 Payment date: 27th February 2026 Dividend yield will be 6.6%, which is higher than the industry average of 5.2%. Reported Earnings • Jan 29
Full year 2025 earnings released: EPS: RM0.04 (vs RM0.026 in FY 2024) Full year 2025 results: EPS: RM0.04 (up from RM0.026 in FY 2024). Revenue: RM259.9m (up 13% from FY 2024). Net income: RM95.5m (up 52% from FY 2024). Profit margin: 37% (up from 27% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • Oct 24
Third quarter dividend of RM0.01 announced Shareholders will receive a dividend of RM0.01. Ex-date: 4th November 2025 Payment date: 20th November 2025 Dividend yield will be 6.3%, which is higher than the industry average of 5.2%. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: RM0.009 (vs RM0.007 in 3Q 2024) Third quarter 2025 results: EPS: RM0.009 (up from RM0.007 in 3Q 2024). Revenue: RM64.2m (up 12% from 3Q 2024). Net income: RM21.0m (up 28% from 3Q 2024). Profit margin: 33% (up from 28% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 4% per year. Declared Dividend • Jul 31
Second quarter dividend increased to RM0.01 Dividend of RM0.01 is 6.2% higher than last year. Ex-date: 11th August 2025 Payment date: 28th August 2025 Dividend yield will be 6.2%, which is higher than the industry average of 5.2%. Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: RM0.012 (vs RM0.007 in 2Q 2024) Second quarter 2025 results: EPS: RM0.012 (up from RM0.007 in 2Q 2024). Revenue: RM64.6m (up 13% from 2Q 2024). Net income: RM29.6m (up 79% from 2Q 2024). Profit margin: 46% (up from 29% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the REITs industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year. Price Target Changed • Jul 11
Price target increased by 10% to RM0.66 Up from RM0.60, the current price target is an average from 3 analysts. New target price is 12% above last closing price of RM0.59. Stock is up 23% over the past year. The company is forecast to post earnings per share of RM0.036 for next year compared to RM0.026 last year. Price Target Changed • Mar 30
Price target increased by 22% to RM0.60 Up from RM0.49, the current price target is an average from 2 analysts. New target price is 13% above last closing price of RM0.53. Stock is up 12% over the past year. The company is forecast to post earnings per share of RM0.034 for next year compared to RM0.026 last year. Reported Earnings • Mar 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: RM0.026 (down from RM0.028 in FY 2023). Revenue: RM231.0m (up 7.4% from FY 2023). Net income: RM62.7m (down 3.9% from FY 2023). Profit margin: 27% (down from 30% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, while revenues in the REITs industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annuncio • Mar 24
IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 23, 2025 IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 23, 2025, at 16:00 Singapore Standard Time. Location: bintang ballroom, level 5, cititel mid valley, mid valley city, lingkaran syed putra, 59200 kuala lumpur, Malaysia Declared Dividend • Jan 25
Fourth quarter dividend of RM0.0075 announced Shareholders will receive a dividend of RM0.0075. Ex-date: 7th February 2025 Payment date: 28th February 2025 Dividend yield will be 6.6%, which is higher than the industry average of 5.2%. Annuncio • Jan 24
IGB Commercial Real Estate Investment Trust Announces Income Distribution for the Period from 1 October 2024 to 31 December 2024, Payable on 28 February 2025 IGB Commercial Real Estate Investment Trust announced Income Distribution of 0.75 sen per unit (0.73 sen taxable and 0.02 sen non-taxable) for the period from 1 October 2024 to 31 December 2024. The above Company's securities will be traded and quoted "Ex - Income” as from: 07 February 2025. Date Payable is 28 February 2025. Reported Earnings • Jan 24
Full year 2024 earnings released: EPS: RM0.026 (vs RM0.028 in FY 2023) Full year 2024 results: EPS: RM0.026 (down from RM0.028 in FY 2023). Revenue: RM231.0m (up 7.4% from FY 2023). Net income: RM62.7m (down 3.9% from FY 2023). Profit margin: 27% (down from 30% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 4.4% p.a. on average during the next 2 years, while revenues in the REITs industry in Asia are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: RM0.007 (vs RM0.007 in 3Q 2023) Third quarter 2024 results: EPS: RM0.007 (in line with 3Q 2023). Revenue: RM57.6m (up 8.8% from 3Q 2023). Net income: RM16.3m (down 2.0% from 3Q 2023). Profit margin: 28% (down from 32% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the REITs industry in Asia are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 27
Dividend of RM0.0097 announced Shareholders will receive a dividend of RM0.0097. Ex-date: 7th August 2024 Payment date: 30th August 2024 Dividend yield will be 7.6%, which is higher than the industry average of 5.2%. Reported Earnings • Jul 26
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: RM57.3m (up 8.2% from 2Q 2023). Net income: RM16.5m (up 2.7% from 2Q 2023). Profit margin: 29% (down from 30% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the REITs industry in Malaysia are expected to grow by 2.7%. Buy Or Sell Opportunity • Jul 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.0% to RM0.48. The fair value is estimated to be RM0.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last year. Earnings per share has grown by 6.2%. Revenue is forecast to decline by 4.6% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Buy Or Sell Opportunity • Jun 07
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at RM0.49. The fair value is estimated to be RM0.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last year. Earnings per share has grown by 6.2%. Revenue is forecast to decline by 4.6% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Annuncio • May 01
IGB Commercial Real Estate Investment Trust Announces the Retirement of Chai Lai Sim as Chief Financial Officer IGB Commercial Real Estate Investment Trust announced the retirement of Miss Chai Lai Sim as chief financial officer. Date of change is April 30, 2024. Age is 63. Annuncio • Apr 30
IGB Commercial Real Estate Investment Trust Appoints Chow Yeng Keet as Chief Financial Officer, Effective May 1, 2024 IGB Commercial Real Estate Investment Trust announced the appointment of Mr. Chow Yeng Keet as chief financial officer. Date of change is May 1, 2024. Age is 51. Chow Yeng Keet was the Head of Investment of IGB REIT Management Sdn Bhd (the Manager of IGB Real Estate Investment Trust ("REIT") and IGB Commercial REIT) (September 2012 - 30 April 2024). Chow Yeng Keet has working experience in corporate finance and advisory covering mergers and acquisitions, equity and debt fund raising, capital management and restructuring, valuations as well as take-over offers. He started his career in Corporate Finance with the then Sime Merchant Bankers Berhad in 1997. He was with Commerce International Merchant Bankers Berhad (now known as CIMB Investment Bank Berhad) prior to joining IGB Corporation Berhad ("IGBC") in 2004. He was appointed as Senior General Manager, Corporate Finance of IGBC from 1 January 2017. After the privatisation of IGBC by IGB Berhad ("IGB") on 16 March 2018, he resumed the same role at IGB until 31 December 2022, and was subsequently promoted to Deputy Group CFO ("GCFO") (1 January 2023 - 30 April 2024) and GCFO on 1 May 2024. He is also the current Director of Finance of Mid Valley City Sdn Bhd, a subsidiary of IGB. Qualifications: Accountancy from Association of Chartered Certified Accountants- a Fellow member; Accountancy from Malaysian Institute of Accountants- a member and Bachelor of Economics (First Class Honours) from University of Malaya. Reported Earnings • Apr 18
First quarter 2024 earnings released: EPS: RM0.008 (vs RM0.007 in 1Q 2023) First quarter 2024 results: EPS: RM0.008 (up from RM0.007 in 1Q 2023). Revenue: RM56.0m (up 6.9% from 1Q 2023). Net income: RM18.9m (up 8.5% from 1Q 2023). Profit margin: 34% (in line with 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 2.3% growth forecast for the REITs industry in Malaysia. Annuncio • Feb 27
IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 17, 2024 IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 17, 2024, at 12:30 Singapore Standard Time. Agenda: To consider and approve the Financial Statements and reports; and to consider and approve the renewal of recurrent related Party Transactions mandate. Upcoming Dividend • Feb 08
Upcoming dividend of RM0.018 per share at 6.9% yield Eligible shareholders must have bought the stock before 15 February 2024. Payment date: 29 February 2024. Trailing yield: 6.9%. Within top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (5.2%). Declared Dividend • Feb 01
Final dividend of RM0.018 announced Shareholders will receive a dividend of RM0.018. Ex-date: 15th February 2024 Payment date: 29th February 2024 Dividend yield will be 6.8%, which is higher than the industry average of 5.2%. Reported Earnings • Jan 31
Full year 2023 earnings released: EPS: RM0.028 (vs RM0.027 in FY 2022) Full year 2023 results: EPS: RM0.028 (up from RM0.027 in FY 2022). Revenue: RM215.1m (up 13% from FY 2022). Net income: RM65.2m (up 3.4% from FY 2022). Profit margin: 30% (down from 33% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.8% p.a. on average during the next 2 years, while revenues in the REITs industry in Malaysia are expected to grow by 2.3%. Buy Or Sell Opportunity • Jan 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.0% to RM0.49. The fair value is estimated to be RM0.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 17%. Revenue is forecast to decline by 0.6% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Annuncio • Dec 29
IGB Commercial Real Estate Investment Trust Announces Retirement of Antony Patrick Barragry as Chief Executive Officer, Effective 31 December 2023 IGB Commercial Real Estate Investment Trust announced retirement of Antony Patrick Barragry as Chief Executive Officer. Date of Change is 31 December 2023. Age is 71. Reported Earnings • Oct 14
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: RM52.9m (up 16% from 3Q 2022). Net income: RM16.7m (up 25% from 3Q 2022). Profit margin: 32% (up from 29% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the REITs industry in Asia. Upcoming Dividend • Aug 01
Upcoming dividend of RM0.017 per share at 6.3% yield Eligible shareholders must have bought the stock before 08 August 2023. Payment date: 29 August 2023. Trailing yield: 6.3%. Within top quartile of Malaysian dividend payers (5.3%). Higher than average of industry peers (5.6%). Reported Earnings • Jul 27
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: RM53.0m (up 16% from 2Q 2022). Net income: RM16.1m (up 21% from 2Q 2022). Profit margin: 30% (up from 29% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the REITs industry in Asia are expected to remain flat. Buying Opportunity • Mar 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be RM0.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 168% over the last year. Earnings per share has grown by 114%. Revenue is forecast to grow by 4.4% in 2 years. Earnings is forecast to grow by 38% in the next 2 years. Upcoming Dividend • Jan 31
Upcoming dividend of RM0.015 per share at 5.2% yield Eligible shareholders must have bought the stock before 07 February 2023. Payment date: 27 February 2023. Trailing yield: 5.2%. Within top quartile of Malaysian dividend payers (5.0%). In line with average of industry peers (4.8%). Price Target Changed • Nov 16
Price target decreased to RM0.46 Down from RM0.52, the current price target is provided by 1 analyst. New target price is 13% below last closing price of RM0.53. Stock is down 14% over the past year. The company is forecast to post earnings per share of RM0.03 for next year compared to RM0.013 last year. Major Estimate Revision • Nov 05
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from RM196.3m to RM191.6m. EPS estimate also fell from RM0.03 per share to RM0.03 per share. Net income forecast to grow 138% next year vs 12% growth forecast for REITs industry in Malaysia. Consensus price target down from RM0.52 to RM0.46. Share price fell 2.7% to RM0.54 over the past week. Annuncio • Nov 04
IGB Commercial Real Estate Investment Trust Announces Redesignation of Dato' Seri Robert Tan Chung Meng as Non Independent and Non Executive Director effective 01 Jan. 2023 IGB Commercial Real Estate Investment Trust announces Redesignation of Dato' Seri Robert Tan Chung Meng, 70, as Non Independent and Non Executive Director from Managing Director. Date of change 01 Jan. 2023. Price Target Changed • Oct 17
Price target decreased to RM0.52 Down from RM0.61, the current price target is provided by 1 analyst. New target price is 5.5% below last closing price of RM0.55. Stock is down 19% over the past year. The company is forecast to post earnings per share of RM0.034 for next year compared to RM0.013 last year. Upcoming Dividend • Aug 02
Upcoming dividend of RM0.019 per share Eligible shareholders must have bought the stock before 09 August 2022. Payment date: 29 August 2022. Trailing yield: 2.0%. Lower than top quartile of Malaysian dividend payers (4.8%). Lower than average of industry peers (4.3%). Annuncio • Mar 01
IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 28, 2022 IGB Commercial Real Estate Investment Trust, Annual General Meeting, Apr 28, 2022, at 12:00 Singapore Standard Time. Agenda: To receive the Financial Statements of IGBCR (together with the reports of the Trustee, the Manager and the Auditor) for the financial period from date of establishment on 31 March 2021 to 31 December 2021 (Financial Statements and Reports FPE2021); to consider proposed Unitholder Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature; and to consider any other matter thereof. Annuncio • Jan 28
IGB Commercial Real Estate Investment Trust Announces Income Distribution for the Period from September 17, 2021 to December 31, 2021, Payable on February 25, 2022 IGB Commercial Real Estate Investment Trust announced Income Distribution of 1.147 sen per unit (taxable) for the period from September 17, 2021 to December 31, 2021. The last date of lodgment: February 14, 2022. Date Payable: February 25, 2022.