KUALA LUMPUR: The manager of IGB Real Estate Investment Trust
(IGB REIT) said it is cautious on retail sales growth, which it expects to affect the performance of its tenants in shopping malls.
"The key challenge for the Malaysian retail industry is the rising cost of living.
"Inflationary pressures have affected consumer spending and higher operating costs and ringgit depreciation against major foreign currencies have impacted retail sales," it said in comments accompanying the REIT's results filing with Bursa Malaysia.
However, the REIT manager said it remains committed to creating long-term value for its stakeholders.
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