IGB REIT to see continued rental pressure in 3Q

KUALA LUMPUR: The worsening Covid-19 situation is expected to continue to exert pressure on IGB Real Estate Investment Trust's (REIT) earnings in the third quarter of the year with rental support provided to tenants during this challenging period.

IGB REIT's 1HFY21 realised net income of RM88mil was broadly within Kenanga Research's expectations at 42% of its full-year estimate as it expects an economic reopening in the fourth quarter to boost earnings.