Proposed REIT will put WCT’s balance sheet on stronger footing

PETALING JAYA: WCT Holdings Bhd’s proposed real estate investment trust (REIT), which will comprise three assets with a combined asset value of RM2.4bil will aid in degearing the group’s balance sheet.

Kenanga Research said the valuation exceeds its previous assumption of RM1.02il, prompting an upgrade to its target price (TP) for WCT by 22% to RM1.43 a share from RM1.17.