6 days ago
Higher 2Q net profit for UOA-REIT
PETALING JAYA: UOA Real Estate Investment Trust (UOA-REIT) expects the demand for office space to continue to improve gradually.
In a filing with Bursa Malaysia, the REIT said its completed asset enhancement initiatives would help to generate interest in older buildings in its portfolio, while the initiatives continue into financial year 2025.
For its second quarter ended June 30, 2025, UOA-REIT's net profit rose to RM10.89mil from RM8.1mil in the previous corresponding period, while revenue improved to RM30.09mil from RM27.75mil a year earlier.
UOA-REIT said gross rental income during the quarter had increased by 9%, driven by improved occupancies.
'The increase in total expenditure was mainly due to increase in property operating expenses. The higher property operating expenses were primarily due to the increase in maintenance costs.'
