Nevertheless, the research house said on a brighter note, the earnings outlook for Pavilion REIT remains optimistic, driven by a positive rental reversion outlook for Pavilion KL Mall.
Quarterly revenue gained 43.
The property is situated within an established industrial development known as the Sendayan Techvalley Industrial Park.
Distributable income for the quarter under review grew 29% to RM28.
Going forward, Atrium said the management remains cautious due to the uncertainties surrounding the economic recovery as a result of the global economic slowdown, inflationary pressures and geopolitical risks.
In a Bursa Malaysia filing on Friday (Oct 20), Axis REIT said the judgement was served to Yongnam Engineering Sdn Bhd (YESB) and its corporate guarantor which is listed on the Singapore Exchange, Yongnam Holdings Ltd, as both parties did not enter their appearance in the lawsuit.
The earnings growth was mainly supported by higher tenant sales and positive rental reversion due to high shopper footfall at the Mid Valley Megamall and The Gardens Mall, they said.
The REIT, whose portfolio includes the Mid Valley Megamall and The Gardens Mall, posted a 6.
PIVB recommended to non-interested shareholders of MRCB to vote in favour of the resolution pertaining to the proposed acquisition at the extraordinary general meeting on Oct 24.
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