IOI Properties' Acquisition Spree Leading To Higher Net Gearing
IOI Properties' Acquisition Spree Leading To Higher Net Gearing
IOI Properties Group Berhad (IOIPG) recently acquired Tropicana Gardens Mall for RM680 million, a seven-storey retail podium in Petaling Jaya, with an occupancy rate of approximately 77%. The acquisition is part of IOIPG's strategy to expand its investment properties portfolio, which also includes recent purchases of W Kuala Lumpur hotel, Courtyard by Marriott Penang, and land in Langkawi for future development, according to MIDF Amanah Investment Bank (MIDF).
IOI地產集團有限公司（IOIPG）最近以68000萬令吉的價格收購了Tropicana Gardens購物中心，這是一座位於八打靈再也的七層零售裙樓，入住率約爲77％。根據MIDF Amanah投資銀行（MIDF）的數據，此次收購是IOIPG擴大其投資物業組合戰略的一部分，其中還包括最近收購的吉隆坡W酒店、檳城萬怡酒店以及蘭卡威土地以用於未來開發。
MIDF maintains a NEUTRAL rating on IOIPG with a revised target price of RM2.25, down from RM2.40 previously. The bank highlights that while the acquisitions contribute to portfolio expansion, they also lead to higher net gearing, expected to rise to 0.78x from 0.74x as of 3QFY24, which impacts the company's valuation.
MIDF維持對IOIPG的中性評級，修訂後的目標價爲2.25令吉，低於之前的2.40令吉。該銀行強調，儘管這些收購有助於擴大投資組合，但也導致淨資產負債率增加，預計將從 3QFY24 的0.74倍升至0.78倍，這會影響公司的估值。
IOIPG's earnings forecast remains unchanged as the near-term impact of the acquisitions is seen as limited. The company's expanding investment portfolio and increased net gearing present mixed signals, with limited short-term catalysts expected to drive significant growth.
由於收購的短期影響被認爲有限，IOIPG的收益預測保持不變。該公司不斷擴大的投資組合和淨資產負債的增加發出了喜憂參半的信號，預計有限的短期催化劑將推動顯著增長。
譯文內容由第三人軟體翻譯。