KIP REIT posts RM17.25 million quarterly profit as revenue rises
Net property income rose 17.6 per cent to RM35 million, with the trust citing stronger mall performance and contributions from acquired properties.
KIP Real Estate Investment Trust (KIP REIT) reported net profit of RM17.25 million for its first quarter ending Sept 30, barely above the year-earlier RM17.24 million, according to its Bursa Malaysia filing. Revenue reached RM48.75 million, an increase of 19.6 per cent from RM40.76 million.
The trust said better performance at its nine KIPMalls, alongside income from recently acquired retail and industrial properties, drove the revenue growth. Net property income reached RM35 million, up 17.6 per cent from RM29.7 million, reflecting increased revenue from both asset categories.
The central region generated RM23.1 million in revenue, up 15.3 per cent, while revenue in the southern region reached RM14.7 million after growing 7.5 per cent. Northern region revenue increased 33.9 per cent to RM6.6 million. The east coast contributed RM1.1 million, against RM0.1 million a year before.
For financial year 2027, the trust said it remained optimistic, citing its existing portfolio's performance and efforts to improve leasing and operations while seeking quality investments. Its manager expects stable performance and said it would maintain prudent capital management to support sustainable distributions per unit.
