AmanahRaya REIT has declared a distribution per unit (DPU) of 1.49 sen for its 2Q 2016, a fall of approximately 6.3% compared to the 1.59 sen recorded for the corresponding financial period of 2015.
Gross revenue and profit for the period came in at MYR14.2 million (USD3.5 million) and MYR8.97 million, a fall of 7.4% and 6.5% from the MYR15.3 million and MYR9.6 million achieved in 2Q 2015 respectively.
For the period which ended 30 June 2016, the REIT recorded a cumulative rental income of MYR28.7 million against preceding corresponding period of MYR30.5 million.
“The decrease in rental income of 6% was contributed by the disposal of Wisma AmanahRaya Jalan Ampang on 27 January 2016”, said the mixed commercial REIT in a filing with the Bursa Malaysia on 24 August.
In its filing on the quarter’s results, AmanahRaya REIT also disclosed that it was involved in a legal dispute with former tenant Standard Confectionary and High-5 Conglomerate Berhad over the Silver Bird Factory property.
A Malaysian court has given an order for vacant possession of the property and consequential relief to AmanahRaya REIT, and the REIT has successfully repossessed the Silver Bird Factory property on 4 July 2016.
Units of AmanahRaya REIT finished the trading day about 1.6% lower from its previous close on the Bursa Malaysia to end at MYR0.95.