Sunway Real Estate Investment Trust, SUNREIT is Malaysia largest REIT player with RM4.305billion worth asset. They have a very good mixture of asset, but mostly from retail section with more than 50% of asset value comes from Sunway Pyramid. Good retail property always deliver a consistence return even during crisis due to steady growth of consumerism and being a tourist heaven place. Looking at their expertise and track record in property sector and asset enhancement area, i think its safe to put our and trust on them.
Current Price = RM 1.14
Net Asset Value = RM 0.974
Asset = RM4.305bn
Market Value = RM3.063bn
Gross DPS - RM 0.065~RM0.07
DY = 5.7% ~ 6.2%
The yield might look not attractive for time being, but looking at their asset under Right of First Refusal, over the years, more and more good asset will be injected into Sunreit, thus will increase their NAV and DPS.
Looking at uncertain market with US and EU soverign debt issue, i think Sunriet is worth a bet.
Anyway, I always love Sunway Pyramid, very good place to shop and hang out. Clean, vibrant, timeless and exciting. My no.2 favourite mall, Mid valley being no.1.
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