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IGB Commercial Real Estate Investment Trust (IGBCR) (5299) Fair Value & Analysis

Real Estate · MY · Market cap 1.5B MYR

IC IGB Commercial Real Estate Investment Trust (IGBCR) 5299 · KLSE
Price0.5950 MYR
Fair Value0.7100 MYR
Upside+19.3%
Quality95/100
Evidence: High Range 0.5000 MYR – 0.8400 MYR

Fair value as of: Jun 26, 2026

From 21 valuation models · updated 3 days ago

Share price −1.7% over the past month.

Price vs Fair Value (12 months)

0.6309 MYR 0.5161 MYR Fair Value 0.7100 MYR Jun 2025 Jun 2026

12‑month range 0.5161 MYR – 0.6309 MYR · fair‑value band 0.5000 MYR – 0.8400 MYR · the 0.5950 MYR price screens below the 0.7100 MYR fair value. As of Jun 26, 2026.

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Analysis

IGB Commercial Real Estate Investment Trust (IGBCR) (5299) currently trades at 0.5950 MYR, while our model-based Fair Value estimate is 0.7100 MYR — implying the stock looks roughly 19.3% undervalued today. We read business quality at 95/100 (high quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.

Over the trailing twelve months, IGB Commercial Real Estate Investment Trust (IGBCR) generated revenue of 266M MYR at a net margin of 37.7%. Revenue grew 10.5% year over year. It earns a return on equity of 4.4%. Net debt stands at 789M MYR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 266M MYR
Revenue growth (YoY) +10.5%
Net margin 37.7%
Return on equity 4.4%
Free cash flow 172M MYR FY2025
P/E ratio 15.0
More key figures
Operating margin 56.8%
EPS (TTM) 0.0400 MYR
Dividend yield 7.4%
EPS growth (YoY) +19.0%
Net debt 789M MYR FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

IGB Commercial Real Estate Investment Trust (IGBCR) was listed on the Main Market of Bursa Malaysia Securities Berhad on 20 September 2021. It was established with the principal investment policy of investing, directly and indirectly, in a portfolio of income-producing real estate used primarily for commercial purposes. IGB Commercial Real Estate Investment Trust was incorporated in 2021 in Malaysia.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IGB Commercial Real Estate Investment Trust (IGBCR) reported revenue of 260M MYR in FY2025 versus 53.4M MYR in FY2021, a compound +48.5%/yr. Reported net income was 95.5M MYR in FY2025, compounding +44.3%/yr from FY2021.

Revenue +48.5%/yr
FY21 53.4M MYR
FY22 190M MYR
FY23 215M MYR
FY24 231M MYR
FY25 260M MYR
Net income +44.3%/yr
FY21 22.0M MYR
FY22 63.1M MYR
FY23 65.2M MYR
FY24 62.7M MYR
FY25 95.5M MYR

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Similar stocks

6 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
BXP, Inc BXP $64.34 $60.75 -6%
MERLIN Properties SOCIMI, S.A MRL €15.23 €7.92 -48%
Alexandria Real Estate Equities, Inc A1RE34 R$65.59 R$10.30 -84%
Vornado Realty Trust VNORP $51.75 $47.22 -9%
Gecina GECFF $87.89 $126.77 +44%
Hudson Pacific Properties, Inc HPP $14.30 $4.28 -70%

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Frequently asked questions

Is IGB Commercial Real Estate Investment Trust (IGBCR) (5299) undervalued?
As of Jun 26, 2026, our model estimates a fair value of 0.7100 MYR versus a price of 0.5950 MYR — about +19% (undervalued). Model-based estimate, not financial advice.
What is the fair value of 5299?
Our 21-model fair value for IGB Commercial Real Estate Investment Trust (IGBCR) is 0.7100 MYR (as of Jun 26, 2026), built from audited fundamentals. The current price is 0.5950 MYR.
What is the quality score of 5299?
IGB Commercial Real Estate Investment Trust (IGBCR) has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of IGB Commercial Real Estate Investment Trust (IGBCR) (5299)?
IGB Commercial Real Estate Investment Trust (IGBCR) reported trailing-twelve-month revenue of about 266M MYR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of 5299?
The net profit margin of IGB Commercial Real Estate Investment Trust (IGBCR) is about 37.7%, meaning it keeps roughly 37.7% of revenue as net income. Based on the latest reported figures.
Does IGB Commercial Real Estate Investment Trust (IGBCR) pay a dividend?
IGB Commercial Real Estate Investment Trust (IGBCR) currently shows a dividend yield of about 7.44% relative to its recent price (as of Jun 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.