IGB to gain from international border reopening

“We also highlight that shopping malls and office buildings will be among the first to be adversely impacted if Covid-19 infections rise again and lockdown measures are re-imposed.” Other than the severity of Covid-19 cases, RHB Investment Bank Research said daily infection rates have remained high.

PETALING JAYA: IGB Bhd will benefit from the re-opening of international borders, with a robust recovery in retail assets – particularly for Mid Valley Megamall and The Gardens under IGB Real Estate Investment Trust or REIT – and lower losses for hotels, says CGS-CIMB Research.

The hotel segment registered a RM56mil loss before interest and taxes or LBIT in the financial year ended Dec 31, 2021 (FY21).