5 days ago
KIP-REIT's net profit more than doubles to RM115mil
KIP-REIT CEO Valerie Ong.
KUALA LUMPUR: KIP Real Estate Investment Trust (KIP-REIT) recorded a net profit of RM115.14mil for the financial year ended June 30, 2025 (FY25), more than doubled the RM47.31mil posted a year earlier, supported by stronger rental income, portfolio expansion and fair value gains.
Revenue for the year rose to RM136.13mil from RM102.16mil previously, driven by stable contributions from its KIPMalls, D'Pulze Shopping Centre, TF Value-Mart and industrial assets, it said in a filing.
For the fourth quarter of FY25, KIP-REIT posted a higher net profit of RM79.25mil, up from RM16.05mil a year earlier. This was mainly due to stronger lease income from an improved tenant mix, higher occupancy and contributions from newly acquired assets, KIP-REIT said in the filing.
Quarterly revenue rose to RM39.89mil from RM32.64mil, supported by steady rental income across the trust's portfolio, particularly from the Cheras Jaya property.
In a separate statement, KIP-REIT said it recorded a revaluation surplus of RM61.8mil from its annual fair value assessment of 14 investment properties as at June 30, 2025, conducted by Rahim & Co in accordance with the Securities Commission's Listed REIT Guidelines.
'The gain reflects appreciation across the portfolio, notable from newly acquired assets such as D'Pulze Shopping Centre, TF Value-Mart and the Cheras Jaya industrial property, as well as from matured KIPMalls including Kota Warisan, Masai and Tampoi, which recorded double-digit fair value gains,' it said.
Chief executive officer Valerie Ong said the FY25 performance reflected the group's growth strategy and focus on stable, long-term returns. — Bernama
