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Despite BNM OPR cut, HLIB downgrades M-REITs as Covid-19 impairs earnings

HLIB analyst Nazira Abdullah said that although historically, the widened yield spread between M-REITs and Malaysian Government Securities (MGS) bodes well for REITs' share prices, it may not be the case this time because the Covid-19-driven restricted movement policies in Malaysia have impaired the retail industry, which constitutes a large portion in M-REITs.

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