Share
- Its NPI for 1QFY2026 rose to RM29.72 million from RM19.67 million a year earlier, on the back of a 52.6% jump in revenue to RM40.77 million from RM26.71 million previously.
KUALA LUMPUR (Oct 29): KIP Real Estate Investment Trust’s (KL:KIPREIT) net property income (NPI) surged 51% year-on-year for the first quarter ended Sept 30 (1QFY2026), driven by its newly acquired assets.
During the quarter under review, KIP REIT completed three acquisitions, namely, KIPMall Desa Coalfields, KIPMall Kuantan and an industrial property in Bintulu, Sarawak.
Its NPI for 1QFY2026 rose to RM29.72 million from RM19.67 million a year earlier, on the back of a 52.6% jump in revenue to RM40.77 million from RM26.71 million previously.
Its income available for distribution rose 68.3% to RM17.6 million from RM10.5 million, according to its filing with Bursa Malaysia.
The REIT declared a distribution per unit (DPU) of 1.8 sen, payable on November 11. Based on Wednesday’s closing price of 87 sen, the trailing 12-month DPU translates into a distribution yield of about 8.1%.
In a statement, KIP REIT CEO Valerie Ong said the enlarged portfolio and disciplined execution have translated into meaningful earnings growth for 1QFY2026.
“Completing three acquisitions within a single reporting period highlights our focus on scaling strategically while enhancing income visibility.”
“We remain committed to sustaining stable distributions and identifying yield-accretive opportunities. With healthy occupancy and solid retail and industrial fundamentals, we will continue to optimise our assets and drive long-term value for our unitholders,” she added.
She pointed out that the central region, comprising KIPMall Senawang, KIPMall Bangi, KIPMall Kota Warisan, DPulze and KIPMall Desa Coalfields, remained the largest revenue contributor, delivering close to 50% of the REIT’s total revenue for the quarter under review.
The group has also recently completed the purchase of another industrial asset in Pasir Gudang, Johor, expanding its portfolio to 18 income-generating properties across Peninsular Malaysia and Sarawak, with total assets under management (AUM) of RM1.7 billion.
Shares of KIP REIT closed unchanged at 87 sen on Wednesday, giving it a market capitalisation of RM834 million.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
