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KFCH buys 10m more KPJ REIT units

KUALA LUMPUR: KFC Holdings (Malaysia) Bhd has acquired an additional 10 million units of Al-Aqar KPJ REIT from the open market for RM10.35 million cash.

In a statement on Thursday, July 15, KFCH said the investment offered a better return of about 7.3% (based on the current dividend yield) than the fixed deposit interest rate of about 2.5% to 3%.

It added that there was the opportunity of capital appreciation given that the REIT's future acquisition plans and a stable income stream from the tenants of its properties.

To date, KFCH holds 20 million KPJ REIT units, for a total cost of RM20.88 million.
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