Reiterate BUY. SunREIT's 9MFY6/12 core net profit of MYR142.5m accounted
for 75-77% of our and consensus full-year estimates. SunREIT's declared
MYR0.019 DPU for 3Q (YTD: MYR0.056) was also in line. No change in our
earnings forecasts and MYR1.40 TP. Potential surprises could come from
new asset injections (e.g. colleges) which gear towards providing a
stable income stream.
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Source: Maybank Research - 26 April 2012
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