Sunway REIT’s Distribution Per Unit Rises 0.8% To 2.5 Sen (US$0.006)
Sunway REIT Management Sdn. Bhd., the Manager of Sunway Real Estate Investment Trust (Sunway REIT), is pleased to announce its financial results for the quarter ended 30 September 2019.First quarter unaudited financial results for the period from 1 July 2019 to 30 September 2019 (1Q FY2020)
Sunway REIT started the financial year on a steady trajectory in the first quarter of financial year ending 30 June 2020 (1Q FY2020). In 1Q FY2020, revenue rose by 8.1% year-on-year (y-o-y) to RM155.4 million, underpinned by improved performance across all segments. Net property income (NPI) expanded correspondingly by 7.7% y-o-y to RM119.1 million. In tandem with the topline improvement, net realised income increased by 7.9% to RM78.7 million, partially offset by lower interest income and higher finance cost to finance acquisition and capital expenditure.