The notable improvement was supported by stronger performance in the property development segment and the Group’s strategic expansion into the hospitality & leisure segment.
If the disposal of Wisma Sentral Inai goes through, the real estate investment trust will see its overall occupancy rate rise to 94% from 85%, while improving its yield, according to analysts’ estimates, as the loss-making property has been vacant for more than three years now.
Axis REIT said proceeds from the sukuk issuance will be used to finance capital and development expenditure, working capital, general corporate purposes and to refinance existing or future Islamic financing.
The EPF first emerged as a substantial shareholder in KIP REIT after acquiring a 6.
Revenue for the quarter was down by 2.
KIP REIT owns 10 retail malls and four industrial assets worth RM1.
The single-storey detached warehouse comes with an annexed double-storey office, as well as a 1½-storey detached warehouse and other ancillary buildings, which were built upon a portion of leasehold land.
Following the sale, the Hong Leong Bank Bhd (KL:HLBB) chairman's interest in the industrial-focused REIT is estimated to have fallen to 23.
Axis REIT's net income rose to RM46.
IGB REIT declared a distribution per unit (DPU) of 2.
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