First day debut on 8/7/2010, drop from reference price of 90sen to 88.5sen, not a bad start indeed. There will be a refund of 9sen after readjustment of IPO price from 97sen to 88sen for retailer.
Sunway REIT covers retail business of 53%, hospitality 40% and office 7%. Is the largest REIT in Malaysia so far, with properties valued at RM3.73b as of Feb 2010.
Initial portfolio of properties comprises of real estate in the retail, hospitality and office sectors in Malaysia, namely:-
a) Sunway Pyramid Shopping Mall
b) Sunway Carnival Shopping Mall
c) Suncity Ipoh Hypermarket
d) Sunway Resort Hotel
e) Spa Pyramid Tower Hotel
f) Sunway Hotel Seberang Jaya
g) Menara Sunway
h) Sunway Tower
As Sunway REIT 86% of properties is located in SUnway Integrated Reosrt, one of Malaysia leading tourist attractions, this would mean that the mix of properties and attractions would generate higher rental & occupancies for its properties. Sunway REIT intends to leverage on its competitive strengths to optimise results and further seek properties that are yield-accretive and have growth potential in its DIV/DPU or NAV per unit contribution.
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