MOST real estate investment trust (REIT) managers are confident that the Malaysian REIT industry will remain resilient and a minimum yield of 6% is achievable this year despite a looming recession in the United States. The REIT managers believe properties under trusts are generally more protected in terms of value compared with properties held by individual owners, as they were mostly locked-in or leased to established clients or multinationals which normally would not default on their rentals. Axis REIT Managers Sdn Bhd chief operating officer Stewart LaBrooy said the target of 6% yield was not a problem for Axis REIT as it had a strong clientele base and that the trust was managed well. Read more>
(The Star 25-2-2008)
