IPO of Tower REIT

There have been articles on Tower REIT IPO for the last 2 days from Chinese, English or Malay newspapers. According to the articles, Tower REIT is part of the larger Hong Leong group, which has several prime property assets under its belt. Few things that attract me:

1. Tower REIT will distribute 100% of its net profits for FY06 and FY07 as dividends, providing a dividend yield of 6.42% for FY06 and intend to distribute at least 90% (of its net profit) for each financial year.
   
   
2. The two properties in Tower REIT's listing portfolio are Menara HLA (86% occupancy) and Menara HP (88% occupancy). Besides, GuocoLand (M) Bhd is currently building two office blocks as part of its 16-acre PJ City development along the Federal Highway.
   
   
3. The listing is timely in line with the better outlook for the commercial property market and tax incentives for REIT as announced by the Government last year.
   
   
4. Increase of Interest Rate to overcome inflation.
   
   
5. Good performance record of REIT from other countries like Hong Kong, Singapore, etc.

However, the REIT in Malaysia does not perform that well recently. Perhaps, Malaysian investors are still hoping for High Return from share investments. The concept of diversify is not being implemented yet.

Unfortunately I have been facing some financial problem lately, or else I will still be interested with Tower REIT.