Depends on the purpose. If one has too many properties, although all are giving very good, positive cash flow, it's still best to consolidate to have less properties. For example, if one has 3 RM300k properties and is planning to get a fourth prop, also at RM300k, he/she will need at least 30% downpayment.  Instead, I would rather sell all 3 and get 2 properties worth RM700k each. It's pretty much the same as refinancing, as one will be taking loans that is based on the property's current market value. Refinancing a current property will give cash but without a doubt also increase the monthly installment.

Mathematically, it will work out to be the same.

no more DIBS and increased RPGT.

seem like need to adjust the game plan.