UOA Centre Parcels in Kuala Lumpur (Photo: UOA REIT)

Malaysia-listed UOA REIT has reported a DPU of 2.53 sen for its 3Q 2016, a fall of some 6% from the 2.69 sen achieved in the corresponding period of 2015.

Gross revenue for the period came in at MYR22.6 million (USD5.12 million) while net property income was recorded at MYR11.1 million, falling by 1.3% and 5.9% year-on-year respectively.

Basic earnings per share outstanding for the quarter was 2.63 sen, a fall of 6% from the 2.80 sen recorded in 3Q 2015.

The office REIT with six office properties across Malaysia said that against the nine months ended 30 September 2016, it saw a 0.7% decline in gross rental income.

“The manager will continue to actively manage the portfolio of properties to maximise returns for unitholders”, said the REIT, in a statement filed with the Bursa Malaysia on 22 November.

“However, the occupancy rates may be affected by the uncertainties in the domestic and global economy”, it said, adding that the REIT will continue to assess opportunities for yield accretive acquisitions.

Units of UOA REIT were last done on the Bursa Malaysia at MYR1.69.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.