PETALING JAYA: MRCB-Quill real estate investment trust (MQREIT) posted a loss of RM24.38mil for the fourth quarter ended Dec 31,2019, compared to a net profit of RM8.05mil a year ago.
The company said it fell into the red due to lower income from its properties as well as a RM36.73mil fair value loss for its investment properties across the Klang Valley and Penang.
During the quarter, MQREIT said its realised net income for the quarter fell almost 5% to RM18.61mil compared to RM19.57mil a year earlier.
In a filing with Bursa Malaysia yesterday, MQREIT posted a 2.8% decline in revenue to RM40.62mil in the fourth quarter compared to RM41.81mil previously due to lower revenue generated from Wisma Technip, QB5 and Platinum Sentral.
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