EPF emerges as substantial shareholder in IGB REIT

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KUALA LUMPUR (Mar 24): The Employees Provident Fund (EPF) has emerged as a substantial shareholder in IGB Real Estate Investment Trust (REIT), after acquiring 690,100 units in the REIT last Friday.

In a filing with Bursa Malaysia, IGB REIT (fundamental: 2.8; valuation: 0.5) said, following the purchase of the units, EPF now held a total of 172.7 million units or a 5% direct stake.

IGB REIT manages both Mid Valley Megamall and The Gardens Mall.

IGB REIT shares closed unchanged at RM1.33, with a market capitalisation of RM4.6 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)