KUALA LUMPUR: Kenanga Investment Bank Research has cut its earnings forecasts for IGB Real Estate Investment Trust
(REIT) in light of the re-emerging Covid-19 situation, which will impact shopper footfall and tenant recovery.
Despite IGB REIT's earnings meeting expectations in the third quarter, Kenanga lowered its FY20-21 core net profit by 8% and 3% to RM216mil and RM288mil in anticipation of weaker earnings in 4Q.
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