Oct 30, 2017 - Commenting on the financial results, Dato' Chew Lak Seong, Managing Director of KIP REIT. Management Sdn
PRESS RELEASE FOR IMMEDIATE RELEASE KIP REIT CONTINUES ITS STRONG PERFORMANCE; DECLARED DISTRIBUTION OF 1.5 SEN PER UNIT FOR Q1FY2018 Achieves Annualised Distribution Yield Of 7.13% Kuala Lumpur, 30 October 2017 – KIP Real Estate Investment Trust (“KIP REIT” or the “the Fund”), the first hybrid community-centric retail REIT listed on Bursa Malaysia today announced its first quarter results ended 30 September 2017 (“Q1FY2018”) with a total revenue of RM15.30 million. The Fund recorded a net property income and distributable income of RM9.62 million and RM7.61 million respectively for the quarter translating to an earning per unit of 1.51 sen for Q1FY2018.
For the quarter under review, the Manager of KIP REIT declared an interim distribution per unit (“DPU”) of 1.50 sen per unit, amounting to approximately RM7.58 million which will be paid to unitholders on 28 November 2017.
Since being listed on Bursa Malaysia on 6 February 2017, the Fund has declared a total distribution of RM22.32 million or 4.42 sen per unit for the 8-month period which translated to a distribution yield of 7.13%*.
Commenting on the financial results, Dato’ Chew Lak Seong, Managing Director of KIP REIT Management Sdn Bhd (the Manager of KIP REIT) said, “I am very pleased with the steady financial performance of the Fund despite the absence of festivities during the quarter under review. This reflects the stability and defensive nature of KIP REIT. We are optimistic that the growth prospects KIP REIT will continue to remain intact as we progressively enhance existing properties and seek for new asset injection opportunities for KIP REIT.
*Based on the closing share price of RM0.93 as at end of 30 October 2017. ***
About KIP Real Estate Investment Trust KIP REIT was listed on the main market of Bursa Malaysia on 6 February 2017 with its principal activity of investing in a portfolio of retail real estate properties. All properties are strategically located at the suburbs and mainly concentrated on residential, commercial and industrial areas within a 5 KM radius of catchment areas. The Fund’s portfolio is comprised of five KIP Mart properties – a hybrid between traditional fresh markets and local community-based retail centres located at Tampoi, Kota Tinggi, Masai, Senawang and Melaka, and a KIP Mall – a shopping mall in Bangi with a total net lettable area of over 936 thousand square feet. As at 30 September 2017, total asset value of The Fund amounted to RM612.0 million. For more information about KIP REIT, please visit http://www.kipreit.com.my/ ***
Issued by: Imej Jiwa Communications Sdn Bhd on behalf of KIP Real Estate Investment Trust (“KIP REIT”)
For further queries please contact: Peter Yu +6014 – 699 1379
[email protected] 