Latest news with #RM79.25mil
The Star
5 days ago
- Business
- The Star
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
The Star
5 days ago
- Business
- The Star
KIP REIT registers 2Q earnings boost on improved revenue, property appreciation
KUALA LUMPUR: KIP Real Estate Investment Trust (REIT) recorded a sharply higher earnings quarter as it received a boost to its property valuations following an assessment of its properties. In a statement, the REIT said it recorded a revaluation surplus of RM61.8mil on the annual fair value assessment of 14 investment properties as at June 30, 2025, conducted by Rahim & Co. "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 in a statement. In the fourth financial quarter ended June 30, 2025, KIP REIT recorded a 6.1% higher year-on-year (y-o-y) net property income (NPI) of RM28.1mil, while net profit was nearly five times higher at RM79.25mil. Revenue jumped 22.2% y-o-y to RM39.9mil on the back of contributions from 7 KIPMalls, D'Pulze Shopping Centre, TF Value-Mart, as well as its portfolio of four industrial properties, especially the Cheras Jaya asset. Portfolio occupancy stood at a robust 97.8% during the quarter. Over the entire financial year, the REIT's net profit surged to RM115.14mil from RM47.31mil in the previous year, while revenue rose to RM136.13mil from RM102.16mil in FY24. "We are pleased with our FY2025 performance, which underscores the effectiveness of our disciplined growth strategy and unwavering focus on delivering resilient, long-term returns. "The acquisition of high-yielding, community-focused assets such as D'Pulze and TF Value-Mart has not only strengthened our earnings base but also reinforced the defensive nature of our retail portfolio," said KIP REIT CEO Valerie Ong. The REIT Manager proposed a final income distribution of 2.018 sen per unit for 4QFY25, with book closure date fixed for Aug 8, 2025, and payment on Aug 29, 2025.
