PETALING JAYA: Tower Real Estate Investment Trust (REIT) saw its first-quarter net trust income falling to RM1.57mil from RM2.04mil in the same quarter a year ago.
This is despite gross revenue for the quarter, which ended on Sept 30, rising to RM6.51mil from RM5.66mil a year ago.
Tower REIT said there was a rise in manager’s fees, administrative expenses and interest expenses that led to the fall in net property income.
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