News about Sentral

Net property income for 3QFY2024 was RM37.

In March, the state local government, housing, health and environment committee chairman Hilmi Abdullah was quoted as saying that KB Sentral is expected to be completed by 2027, with the state government having inked an agreement with a company to undertake the project.

The station was opened in 2001 with a capacity of 100,000 passengers per day after development costing over RM1 billion, but now handles some 200,000 passengers daily.

Calls on the REIT’s units remained mixed following the latest quarterly results, although analysts flagged its appealing distribution yield as compared to the sector average.

RHB Bank also kept its "buy" call, with a dividend discount model (DDM)-derived target price of 91 sen.

Finance costs rose 44.

Sentral REIT, which has 53% of its portfolio by valuation located in KL Sentral here, also has exposure in Cyberjaya (13% of portfolio) and Penang (6%).

In a note on Wednesday, RHB IB stated that Sentral REIT’s net profit for the fourth quarter of 2023 (4Q2023) came in at RM19.

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.

Sentral REIT had on July 25 struck a deal with MRCB’s wholly-owned unit Puncak Wangi Sdn Bhd to acquire Menara CelcomDigi, a 27-storey office building.