Office Space Glut Weighs On UOA REIT
Office Space Glut Weighs On UOA REIT
The valuation reflects the current uncertainties and challenges in the office space sector, despite UOAREIT's ongoing adjustments and upgrades.UOA Real Estate Investment Trust (UOAREIT) faced a challenging second quarter of 2024, with core profit after tax (PAT) falling by 30.6% quarter-on-quarter and 41.7% year-on-year, totalling RM8.1 million for the period. The first half of 2024 saw a core PAT of RM19.8 million, which was below expectations, making up only 40.2% and 33.7% of the respective forecasts by the company and consensus.
UOA房地產投資信託基金（UOAREIT）在2024年第二季度面臨着艱難的挑戰，核心稅後利潤（PAT）同比下降30.6％，同比下降41.7％，同期總額爲81萬令吉。2024年上半年的核心收入爲1980萬令吉，低於預期，僅佔公司預測和共識預測的40.2％和33.7％。
According to Malacca Securities, UOAREIT's office space portfolio continues to adapt to several changes, including the replacement of an anchor tenant at Menara UOA Bangsar and upcoming upgrades at Menara UOA Centre and UOA II. Despite a stronger market presence and increased inquiries, the office space market remains cautious due to a shift towards hybrid work models, leading to a forecasted flat rental rate environment.
根據馬六甲證券的數據，UOAREIT的辦公空間投資組合繼續適應多項變化，包括更換孟沙梅納拉UOA的主要租戶，以及即將對Menara UOA中心和UOA II進行升級。儘管市場佔有率增強，查詢量增加，但由於向混合辦公模式的轉變，辦公空間市場仍保持謹慎，預計租金將保持平穩。
Malacca Securities maintains a SELL recommendation on UOAREIT, setting a target price of RM0.93. The target price is based on a price-to-earnings (P/E) ratio of 14.0x applied to the forecast earnings per share (EPS) of 6.64 sen for the Fiscal Year 2025 Forecast (FY25F).
馬六甲證券維持對UOareit的賣出建議，將目標價定爲0.93令吉。目標價格基於14.0倍的市盈率（P/E），適用於2025財年預測（FY25F）中6.64仙的預測每股收益（EPS）。
The valuation reflects the current uncertainties and challenges in the office space sector, despite UOAREIT's ongoing adjustments and upgrades.
儘管UOAREIT正在進行調整和升級，但估值反映了辦公空間領域當前的不確定性和挑戰。
譯文內容由第三人軟體翻譯。
