IOI Properties' near-term outlook remains challenging

KUALA LUMPUR: IOI Properties Group Bhd is keeping its FY22 sales projection to RM2.3bil, the same level as that of the current year, as market confidence remains low, says RHB Research.

"Although the Malaysian Government has announced the reopening of the economy in phases since early September, market confidence is still vulnerable to any potential sporadic spike in new COVID19 cases and new virus variants," it said in note.