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 Properties Group Berhad（IOIPG）最近以6,8000萬馬幣收購了位於八打靈再也的Tropicana Gardens Mall，這是一座七層高的購物中心，入住率約爲77%。這項收購是IOIPG擴大其投資物業組合的策略的一部分，該組合還包括最近收購的W吉隆坡酒店、Courtyard by Marriott Penang以及朗卡威的土地用於未來發展，根據MIDF Amanah投資銀行（MIDF）。
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保持對IOIPG的中立評級，並將目標價從之前的RM2.40下調至RM2.25。該銀行指出，儘管收購有助於組合擴張，但也導致淨負債率增加，預計將從3QFY24的0.74x上升至0.78x，這將影響公司的估值。
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.
IOIPG的收益預測保持不變，因爲收購的近期影響被認爲是有限的。公司不斷擴大的投資組合和增加的淨負債率呈現出混合信號，預計短期內不會有重大增長帶動因素。
