KUALA LUMPUR: Axis Real Estate Investment Trust’s (Axis-REIT) net income more than doubled to RM99.98mil in the fourth quarter ended Dec 31, 2021 (4Q21) against RM49.27mil posted a year earlier.
Its total trust income in 4Q21 stood at RM62.9mil, up 9.43% from RM57.51mil in 4Q20.
For the full financial year, Axis-REIT’s net income jumped 41% to RM200.36mil against RM142.06mil in the preceding year, driven by a higher gain in fair value of investment properties.
The gain in fair value in FY21 was RM67.8mil against RM19mil in the preceding year.
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