Yesterday, two Malaysian REITs that I have been following for a long time fell to important support prices, namely IGBREIT (5227.KLSE) and Alaqar (5116.KLSE).
Let’s take a look at IGBREIT. After the government announced CMCO (conditional movement control operation), the stock price immediately plunged from the peak of RM1.90 to RM1.66. It seems that it yet to find support. Anyway, today we came to a key support RM1. 66. Look at the picture below:
RM1.66 was the key support for MAY 2020. If it falls below RM1.66, the next support will fall at RM1.55, which is the March low. I hope it will not break below. Based on the fundamentals of IGBREIT, as long as the Covid19 has passed, it will definitely be able to recover.
As for Alaqar, the decline today was 5.22%, from RM1.37 to RM1.26, which was very scary. RM1.26 was Mar’s lowest point and finally closed at RM1.27. This is, of course, Alaqar’s key support.
From the 2Q2020 quarterly report, it can be seen that Covid 19 negatively impacts Alaqar. The sister company KPJ’s earnings have fallen. In the end, Alaqar gave Rental Rebate to tenants. With the return of CMCO, Alaqar stock price fully reflects the upcoming impact
If you are confident in the above two REITs, the current prices are quite attractive.
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