KUALA LUMPUR (Jan 26): Atrium Real Estate Investment Trust (Atrium REIT) said its fourth quarter net property income (NPI) rose 20.64% to RM9.30 million, from RM7.71 million in the preceding quarter, thanks to rental income contribution from its Atrium Bayan Lepas (ABLI) property in Penang.

In a bourse filing, the industrial property REIT said gross revenue for the fourth quarter ended Dec 31, 2020 (4QFY20) increased 16.13% to RM8.85 million, from RM7.62 million in 3QFY20.

On a year-on-year basis, the NPI increased 20.98% from RM7.47 million in 4QFY19, while revenue rose 16.28% from RM7.61 million.

Atium REIT declared a distribution per unit (DPU) of three sen, payable on Feb 26, bringing the cumulative distribution for FY20 to nine sen, from 6.63 sen in FY19.

Full-year NPI increased 40.4% to RM32.24 million, from RM21.41 million in FY19, as revenue rose 41.74% to RM31.69 million from RM22.36 million.

Atrium REIT said CJ Century Logistics Sdn Bhd, a tenant at its Atrium USJ-Block B property, will be vacating the premises in January 2021.

“However, the manager has secured our existing tenant, Rohlig Malaysia Sdn Bhd (from Atrium USJ-Block A) to take over the premises. The new tenancy will be for a period of three years and is targeted to commence on Feb 1.

“The manager is in the midst of finalizing the terms of the tenancy agreement with Rohlig.

“The occupancy rate for the trust’s portfolio of properties as at Dec 31, 2020 was 100%. Barring any unforeseen circumstances, the manager expects the trust’s existing portfolio of properties to maintain 100% occupancy throughout the financial year 2021,” it added.

Atrium REIT units finished unchanged at 23 sen today, valuing the trust at RM251.69 million. The counter saw 21,900 shares done.