IGBREIT (aka Midvalley Megamall REIT) is one of the AGM I look forward to attend. This year's AGM is 24/4.
This REIT no need any introduction and is considered a blue chip REIT since all its
assets is Midvalley and Gardens Shopping Mall.I bought into this REIT years ago when I noticed the malls were always full and very hard to get parking. I reckon this was a sign that the mall was in high demand.
The management of the mall seems to be quite proactive, they are able to get in a very good mix of tenants. I also like this REIT because the mall also caters to the working crowd making the mall busy during weekdays, unlike some malls where it is empty during weekdays due to lack of the office worker crowd. The mall also has a convention center which can draw in large crowds during events.
The management of the mall seems to be quite proactive, they are able to get in a very good mix of tenants. I also like this REIT because the mall also caters to the working crowd making the mall busy during weekdays, unlike some malls where it is empty during weekdays due to lack of the office worker crowd. The mall also has a convention center which can draw in large crowds during events.
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| Door Gift |
For AGM this year, the door gift is RM37 cash voucher for use for hotel and buffet with a 6 months validity.
One of the items that might be discussed in the AGM could be whether Midvalley South Key mall in Johor Bahru will be injected into this REIT. I'm neutral on this as this mall has yet to be tested and is a new mall. I don't quite like associating Midvalley Megamall with Midvalley South Key. I've yet to see any wildly successful ventures with such associations, eg Seri Hartamas and Puchong Hartamas, Taipan USJ and Taipan Damansara. Marketers are basically using a psychology NLP (Neural Lingusitic Programming) technique called anchoring. The premise is the human brain can be tricked into thinking that product B will be same as product A just by the name through association.
One of the items that might be discussed in the AGM could be whether Midvalley South Key mall in Johor Bahru will be injected into this REIT. I'm neutral on this as this mall has yet to be tested and is a new mall. I don't quite like associating Midvalley Megamall with Midvalley South Key. I've yet to see any wildly successful ventures with such associations, eg Seri Hartamas and Puchong Hartamas, Taipan USJ and Taipan Damansara. Marketers are basically using a psychology NLP (Neural Lingusitic Programming) technique called anchoring. The premise is the human brain can be tricked into thinking that product B will be same as product A just by the name through association.
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| IGBREIT CEO Antony Barragry |
The REIT management mentioned that they are not looking into acquire Southkey Mall in JB yet as this will affect the yields of the IGBREIT. They are not denying it yet but will keep a look see attitude first.
I've been nibbling on this stock from RM 1.6 until its recent highs of RM 1.90. I have stopped buying already as the price is already at 52-week high values. I will continue to buy more should the price goes to RM 1.6- RM1.7 level. I don't really analyze the profits of this stock as I personally think the foundation for this stock is there already. I only know the dividend yields is hovering around 5% + - , better than putting your money into bank fixed deposit with some potential upside.
I've been nibbling on this stock from RM 1.6 until its recent highs of RM 1.90. I have stopped buying already as the price is already at 52-week high values. I will continue to buy more should the price goes to RM 1.6- RM1.7 level. I don't really analyze the profits of this stock as I personally think the foundation for this stock is there already. I only know the dividend yields is hovering around 5% + - , better than putting your money into bank fixed deposit with some potential upside.