Friday 29 Mar 2024
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KUALA LUMPUR (Dec 30): Tower Real Estate Investment Trust (REIT) rose 4 sen or 3.31% to RM1.25 following the divestment of offices and carpark bays within Menara ING for RM132.34million.

Tower REIT rose to a high of RM1.26 but settled at RM1.25 as at 11.30am.

Trading volume was rather thin with 68,500 units changing hands.

Tower REIT announced yesterday the disposal of 19 office parcels and 190 car park bays in Menara ING for a cash consideration of RM132.34 million will result in a gain of RM40.4 million for the trust.

The Edge Research has rated the REIT’s fundamental score at 1.60 out of 3.0, while its valuation score stands at 3.00, which is the best score.

Fundamental score is rated based on the company’s balance sheet strength and profitability; while the valuation score was rated based on the company’s historical return.

 

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