IGB growth revenue up, falling tourist arrivals dents outlook

Higher revenue: File picture of Mid Valley Megamall, owned by IGB Real Estate Investment Trust. The mall and the neighbouring Gardens Mall reported an increase of 7 and 11 in total gross revenue and net property income of RM367.8mil and RM261.6mil respectively.

PETALING JAYA: Subdued retail outlook and falling tourist arrivals seem to have put a dent on the outlook of the otherwise fundamentally sound IGB Corp Bhd, which derives a chunk of its income from the retail and hotel industry.

There has been no let up in the share price weakness of the company despite it reporting an overall stronger set of results for the bottomline in its third quarter ended Sept 2015.