UOA REIT’s 2Q distributable income flat

TheEdge Thu, Jul 21, 2016 10:13am - 7 years View Original


This article first appeared in The Edge Financial Daily, on July 21, 2016.

 

KUALA LUMPUR: UOA Real Estate Investment Trust (REIT) said its total income available for distribution slipped 3.33% to RM11.58 million for the second quarter ended June 30, 2016 (2QFY16), from RM11.98 million a year ago.

In a filing yesterday, the trust said it had made a provision to distribute RM11 million or 2.61 sen per unit to unitholders, down eight sen or 2.97%, compared with 2.69 sen per unit for 2QFY15.

This brings the total distributable income for the half-year period (1HFY16) to RM22.1 million, a slight decline of 1.78% from RM22.5 million for 1HFY15.

Distribution per unit for 1HFY16 was 5.22 sen, compared with 5.32 sen for 1HFY15, which would be paid by the end of August.

UOA REIT said gross rental for 1HFY16 fell 0.3%, while total expenditure rose 2%, mainly due to higher property operating expenses, manager’s fees and borrowing costs.

“The manager will continue its active operating and capital management strategy to maintain returns, while recognising the challenges posed by volatilities in [the] global economy,” it said.

It added that efforts to seek opportunities to further acquire real estate that meets its objectives will continue.

UOA REIT’s share price closed 0.6% or one sen higher at RM1.69 yesterday, giving it a market capitalisation of RM714.7 million.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

UOAREIT 1.110

Comments

Login to comment.