Consumer sentiment expected to be dampened by inflation, possible targeted fuel subsidies.
Kenanga Research has maintained a cautious stance on Axis REIT due to its declining occupancy rate.
“Not helping either are broad inflationary pressures which would unanimously affect overall retail appetite,” it said.Despite office spaces becoming increasingly relevant, it warned that overall occupancy levels may remain thin as the incremental supply of new office spaces could outweigh the modestly rising take-up rate.
“We believe the industry could benefit from improving appetite for physical retail spending, primarily seen in the prime locations,” it said. “On the other hand, Sunway REIT may have a balanced buffer against sector risk exposures thanks to its diversified assets and strong brand equity,” it further added.
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