Attended IGBREIT AGM.
Voucher - RM 38 Food & Tea voucher.
1) Mix tenant for rental.
2) Gross psf rental increase yearly. MV about RM 14.63 ;The garden about RM 12.58 average.
3) MV rental increment seem much better comparable to The garden.
4) loan converted into MTN bond with 7 years tenure coupon rate between 4.4% ; but after 5th year will become 5.4% if not redeem within 5 years. this could lead info that IGB plan to finish the debt within 5 years and issue new bond ? (no need worry about interest rate increase in future)
5) Revenue up 3.6% cost up 3.4% overall still acceptable.
6) Dividend payment from semi annual become quarterly payment.( Good initiative)
Overall company have reach 100% occupancy, and future will increase additional 1k plus car park to accommodate the mall. the construction towards the SP setia bridge is on going expect it will bring more foot step to MV & Garden.
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