REIT 2Q NPI flag up 18%; the trust pays 4.34 sen DPU

KUALA LUMPUR: Pavilion Real Estate The net income of the Investment Trust (REIT) increased by 18.1% to RM90.62 million in the second quarter ended June 30, 2018 (2FY18), compared to RM 76.72 million a year earlier, mainly due to rents from Elite Pavilion Mall who

The trust also awarded the higher NPI to higher rental income from the Kuala Lumpur Mall Pavilion after a repositioning exercise and a higher occupancy rate at the mall Intermark.

The quarterly business figure also grew by 12.3%. RM 1356 million compared to RM 120.26 million at 2QFY17

The trust declared an interim income distribution per unit (SUN) of 4.34 sen for FY18 ending on December 31, 2018, payable on September 5.

For the six As of June 30, 2018, Pavilion REIT saw its IPN increase by 15.4% to RM 179.63 million The turnover increased by 11.4% to RM 266.57 million against RM $ 39.2 million.

In a filing with Bursa Malaysia yesterday, Pavilion REIT said it had spent RM2 million of its capital commitment during the year, mainly for landscaping, improving signage and the Rental lot improvement at the Da Men Mall.

On the outlook, confidence says with the improved sentiment of consumers after the 14th general election and the removal of the goods and services tax sales and services tax on September 1, the performance of the retail trade has progressed and should improve compared to the first quarter of 1980.

Units of the REIT Pavilion closed a sen or 0.6% yesterday at RM 1.65, valuing at 5.07 billion of RM. [ad_2]
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