Axis Reit HQ PJ
KUALA LUMPUR: Analysts are “neutral” on Axis Real Estate Investment Trust’s (Axis REIT) latest acquisition of a 5.6-acre Bukit Raja industrial land close to Shah Alam in Selangor from Lion Steelworks Sdn Bhd for RM37mil.
The counter closed one sen lower at RM1.78. Despite the initial yield for the asset of 7.3%, RHB Research said it was largely neutral on the acquisition as the impact on its earnings forecast is less than 1%.
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