Latest news with #RM20.14mil
The Star
3 days ago
- Business
- The Star
Sentral-REIT's 2Q25 net income dips
PETALING JAYA: Sentral Real Estate Investment Trust 's (Sentral-REIT) second-quarter net income dipped slightly on the year as the Klang Valley office market continues to face ongoing supply and flight-to-quality pressures. In the second quarter ended June 30, 2025 (2Q25), Sentral-REIT recorded a realised net income of RM20.14mil, down from RM20.53mil in the year-ago quarter. Income per share slipped to 1.68 sen from 1.72 sen in the previous quarter. Revenue in 2Q25 dipped to RM47.7mil from RM49.03mil in the comparative quarter. For the six-month period, the REIT's net income was slightly lower at RM39.74mil compared to RM40.42mil in 1H24, while revenue contracted to RM95.15mil from RM98.72mil in the year-ago period.
The Star
3 days ago
- Business
- The Star
Sentral REIT anticipates broader market headwinds
KUALA LUMPUR: Sentral Real Estate Investment Trust 's (Sentral REIT) second-quarter net income dipped slightly on the year as the Klang Valley office market continues to face ongoing supply and flight-to-quality pressures. Commenting on the REIT's outlook, CEO Derek Teh Wan Wei said it expects to be impacted by broader market headwinds, including the expanded sales and services tax, electricity tariff reforms and uncertainty over tariff tensions. "However, Sentral REIT remains committed to drive sustainable income and long-term growth. We will maintain our focus on positioning and growing Sentral's property portfolio to adapt to market changes," he said in a statement. In the second quarter ended June 30, 2025 (2QFY25), Sentral REIT recorded a realised net income of RM20.14mil, down from RM20.53mil in the year-ago quarter. Income per share slipped to 1.68 sen from 1.72 sen in the previous quarter. Revenue in 2QFY25 dipped to RM47.7mil from RM49.03mil in the comparative quarter. For the six-month period, the REIT's net income was slightly lower at RM39.74mil compared to RM40.42mil in 1HFY24, while revenue contracted to RM95.15mil from RM98.72mil in the year-ago period. It declared an interim distribution of 3.16 sen per unit, with ex date on Aug 21, 2025, and payable on Sept 18, 2025. Sentral REIT has about 460,000 sq ft or 21% of its total committed lettable space due for renewal in 2025, with 62,000 sq ft expiring in 2Q25. According to Sentral REIT Management Sdn Bhd, it successfully renewed 99% of these leases due in 2Q25. "The average occupancy rate is healthy at 85% with a weighted average lease term to expiry at 4.54 years. "Early negotiations have proven effective, whereby 95% of the leases up for renewal in 3Q 2025 have been renewed in advance."
