Quill Capita Trust EPU up by 7.2% to 2.22 sen

KUALA LUMPUR: Quill Capita Trust's earnings per unit (EPU) rose by 7.2% to 2.22 sen during the third quarter (3Q) ended Sept 30, 2010, up from 2.07 sen a year ago.

In a Bursa filing on Tuesday, Oct 19, the real estate investment trust's (REIT) manager Quill Capita Mangement Sdn Bhd (QCM) said its net profit rose by 6.3% to RM8.6 million from RM8.09 million a year ago, underpinned by higher revenue of RM17.39 million from RM16.8 million.

The better performance was attributed to higher rental and income contribution from its portfolio, which mainly comprises of office and retail assets. 

QCM chairman Datuk Mohammed Hussein said: "QCT continues to deliver consistent growth in its EPU year on year, attributable to our resilient portfolio, proactive tenant management and prudent capital management strategy. Our dedicated efforts have contributed to QCT’s increase in EPU."

Meanwhile, its chief executive officer Chan Say Yeong said: "We are pleased to have secured in advance the commitment from an investor to subscribe for a new medium term notes (MTN) of RM8 million which will be issued in December 2010 and will expire in September 2013. The proceeds will be utilised to redeem the existing MTN of RM8 million due in December 2010. With this, we would have completed all of QCT’s refinancing in 2010.”