IGB unlocks value with record REIT deal

Tan: We are confident Southkey will mirror Mid Valley City’s growth success.

THE long-anticipated move by IGB Bhd (IGB) to sell its Johor mall, held via indirect subsidiary Southkey Megamall Sdn Bhd, into the group’s real estate investment trust (REIT), IGB-REIT, injected some excitement into an otherwise dull week on the local bourse.

Analysts were quick to crunch the numbers, and nearly all issued glowing reports highlighting how the deal is accretive to IGB-REIT.