Sunway Pinnacle boon for Sunway REIT

Maybank IB noted that changes in rental rates, occupancy rates, operating expenses and interest rates may lead to lower earnings for Sunway REIT.

PETALING JAYA: The acquisition of The Sunway Pinnacle is expected to lift Sunway Real Estate Investment Trust’s (Sunway REIT) earnings from as early as next year.

MIDF Research in a report yesterday said earnings may be lifted by 0.3% both in 2021 and 2022. “We think that the purchase is in line with Sunway REIT’s strategy to create a more diversified portfolio from being retail-focus previously. We believe the objective of this is to have a more stable income stream in the event of a slowdown in any particular sector.