News about REIT

Quarterly revenue edged up by 6.

The improvement in gross revenue was also due to the impact of revenue straight-lining over the lease term under requirements of Malaysian Financial Reporting Standard 16 Leases, said Sentral REIT in a bourse filing.

This brings its total income distribution for FY2023 to 7.

Furthermore, Maybank IB expects the 10-year Malaysian government securities (MGS) yield to lower to 3.

ARREIT said this follows the signing of a sale and purchase agreement with Plenitude's wholly-owned subsidiary Plenitude Gateway Sdn Bhd for the proposed disposal in June last year.

The tax at a rate of 5% to 10% (previously known as the luxury tax) will come into effect in May.

IGB REIT Management also announced that Lee Chen Chong and Tan Boon Lee will be standing down as directors come Dec 31, as part of the board reorganisation to facilitate independence and diversity in the boardroom.

Yong was later appointed as the executive director of MVC in 2003 and served as its chief executive officer, responsible for overseeing the management and operations of Mid Valley Megamall.

Al-`Aqar Healthcare REIT owns the lands and buildings of Jeta Gardens Aged Care facility, while KPJ owns the business and leases the property.

The divestment, it said, is driven by the shift from residential aged care to home care since 2019, which has resulted in its facility market value declining by one-third to A$27.