UOA REIT 1Q rental income remains flat at RM14.7m

KUALA LUMPUR (May 22): UOA Real Estate Investment Trust reported a net rental income of RM14.7 million for the first quarter ended March 31, 2018, little changed compared to the same period last year.

In a filing with Bursa Malaysia, UOA REIT said gross rental fell 4% to RM19.6 million from RM20.4 million previously.

Realised earnings per unit dropped to 2.13 sen from 2.24 sen.

UOA REIT declared an income distribution of 2.03 sen per unit (including a non-taxable portion of about 0.08 sen per unit).

Moving forward, the REIT's manager, UOA Asset Management Sdn Bhd, said it will continue to seek opportunities to further acquire real estate that meets the objective of UOA REIT.

UOA REIT's share price closed at RM1.41 yesterday, for a market capitalisation of RM596.25 million. — theedgemarkets.com

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