Latest news with #SunwayCarnivalMall
Hype Malaysia
20-05-2025
- Entertainment
- Hype Malaysia
(Video) 'Mission: Impossible' In 8D! GSC Hall's Ceiling Seen Leaking During Film Screening
Despite the variety of streaming platforms available today, nothing quite matches the experience of watching a film at the cinema. Many people find it more enjoyable and immersive, particularly when the screening is in a hall equipped with the latest visual and sound technology. That said, no one really wants a film to be so immersive that it feels as if we're in actual danger. That's exactly what happened to cinema-goers in Penang, who got more than they bargained for while watching the latest action film. Here's what happened: Over the weekend, TikTok user @/afif_izham went to see the newly released 'Mission: Impossible – The Final Reckoning', starring Tom Cruise, at the Golden Screen Cinemas (GSC) outlet in Sunway Carnival Mall in Penang. Everything was going smoothly until halfway through the screening, when the ceiling of the cinema hall began to leak. As shown in the video, water was pouring down onto the middle seats. Amusingly—spoiler alert—the incident occurred during a scene in which Tom Cruise's character, Ethan Hunt, is being transported to a military ship in the middle of the ocean. 'Our first time purchasing tickets to watch a film in 8D! They even used real water in the cinema,' the user joked in his caption. Thankfully for the customers, GSC moved them to a different cinema hall, where they were able to continue enjoying the film. The video has since gone viral, garnering over 211,700 views. Most netizens found the incident amusing, saying how 'lucky' cinema-goers got to enjoy the immersive experience of the film, while others joked that Afif should be glad he and his friends weren't watching the latest 'Final Destination: Bloodline' film instead. At the time of writing, neither Sunway Carnival Mall nor GSC has issued an official statement regarding the incident. While no one else has come forward to share their own '8D' experience, Afif and his friends certainly got their money's worth, judging by their reactions. Have you ever experienced something similar? Watch the viral clip below: Source: TikTok
New Straits Times
15-05-2025
- Business
- New Straits Times
Sunway REIT earnings revised upwards on strong retail performance
KUALA LUMPUR: Analysts have revised upwards their earnings forecasts for Sunway Real Estate Investment Trust (REIT) following its first quarter results that came in within estimates. RHB Research said the company's earnings of RM98.6 million for the first quarter of 2025 (Q1 2025), an increase of 13 per cent year-on-year (YoY), were in line with expectations at 25 per cent of the firm's and street's estimates. The growth was mainly led by the newly acquired properties, namely the six Sunway REIT Hypermarkets, Sunway 163 Mall, and Sunway Kluang Mall, alongside stronger performance from Sunway Pyramid and Sunway Carnival Mall. This helped to offset slower performance in both the hospitality and office segments. Excluding the newly acquired properties, the retail segment's revenue grew 13 per cent YoY in Q1 2025 due to the asset enhancement initiatives (AEI) on Sunway Pyramid and Sunway Carnival Mall and higher occupancy rates. The firm raised its earnings forecasts for the company by two per cent for financial year 2025 (FY25) and three per cent for FY26 and FY27 after adjusting its occupancy rate and rental rate assumptions. It added that Sunway Carnival Mall's AEI should drive higher rental rates for the mall and there is room for organic growth from Sunway Pyramid with the full-year impact of the Oasis precinct, which was only opened in November 2024. RHB Research maintained a 'Buy' call on the stock with a target price (TP) of RM2.13. In a separate note, Hong Leong Investment Bank (HLIB) said Sunway REIT's core net profit exceeded the firm's estimates at 28 per cent of its full-year forecast as well as consensus estimates at 27 per cent. The firm raised its earnings forecasts for Sunway REIT by 8.4 per cent, 10.8 per cent and 11.4 per cent for FY25, FY26 and FY27, respectively, to account for the higher than expected rental reversion. "The retail segment performed better-than-expected and management now guides for high single-digit to low-teens reversion, supported by the full reopening of Sunway Carnival Mall in about a month. "Separately, management attributes the drop in hotel occupancy to softer demand for leisure and MICE activities during the Ramadan period. Nonetheless, we expect a recovery in the coming quarters, supported by the anticipated growth in tourist arrivals under the Visit Malaysia 2026 campaign and the mutual visa exemption between Malaysia and China," it said. HLIB kept its 'Buy' call on the stock with a higher TP of RM2.17. Meanwhile, CIMB Securities noted that Sunway REIT's borrowing costs grew 13 per cent YoY in the quarter under review, attributable to a higher average interest rate of 3.92 per cent and increased borrowings. On May 2, 2025, Sunway REIT announced the disposal of Sunway University and College to Sunway College (KL) Sdn Bhd for RM613 million. As of FY24, the asset accounted for 5.6 per cent of Sunway REIT's portfolio value and contributed 6.8 per cent to its net property income. "Targeted for completion in 2H25, the disposal is an opportunistic move to unlock asset value and is expected to generate a total gain of RM41 million. Proceeds will be utilised for yield-accretive investments, AEI, or debt repayment, which could lower gearing to 40 per cent," it added. It maintained 'Buy' on the stock with a TP of RM2.11.
The Star
14-05-2025
- Business
- The Star
Sunway REIT posts 20% NPI growth in 1Q25
KUALA LUMPUR: Sunway Real Estate Investment Trust (Sunway REIT) reported a 20% increase in net property income (NPI), rising to RM157.2mil in the first quarter ended March 31, 2025 (1Q25) from RM130.5mil in 1Q24. Sunway REIT recorded a 23% year-on-year increase in revenue to RM218.9mil for 1Q25, compared to RM178.6mil in the year-ago quarter. The growth in revenue and NPI was largely driven by a full-quarter contribution from assets acquired in 2024, as well as the reopening of the Oasis precinct in Sunway Pyramid Mall on Nov 1, 2024. However, the overall performance was partially offset by softer results from the hotel segment, attributed to lower occupancy. The retail segment saw strong growth in 1Q25, with revenue rising 33% to RM168.4 mil and NPI increasing by 34% to RM116.8 mil, compared to RM126.3 mil and RM86.9mil, respectively, a year ago. Sunway REIT said the growth was primarily driven by contributions from assets acquired in 2024, namely Sunway 163 Mall, Sunway Kluang Mall and 6 Giant hypermarkets, and the completion of Sunway Pyramid Mall's Oasis precinct. In 1Q25, the hotel segment saw a 16% decline in revenue to RM16.1mil, down from RM19.1mil in Q24, mainly due to softer occupancy levels. NPI also decreased by 18%, falling to RM15mil from RM18.1 mil in the same period last year. Meanwhile, the office segment recorded a 4% decline in revenue to RM20.4mil in 1Q25, mainly due to lower occupancy at Sunway Putra Tower following the relocation of key tenants in 2Q24. NPI fell 11% to RM12.4mil from RM13.9mil in 1Q24, as Sunway Tower had benefited from a vacancy allowance during the same period last year. The services segment registered revenue and NPI of RM9.8mil for 1Q25, up 2% compared to 1Q24, following an annual rental reversion, in accordance with the master lease agreement. Industrial & others segment delivered a strong performance in 1Q25, with revenue jumping 83% to RM4.2 mil and NPI increasing 61% to RM3.2mil. Sunway REIT Management Sdn Bhd chief executive officer Clement Chen said Sunway REIT continued its strong growth trajectory in the first quarter of 2025. He noted that performance was driven by the full-quarter contribution from assets acquired in 2024, with both revenue and NPI recording increases of at least 20%. 'We are also excited to inform that the final phase of refurbishment at Sunway Carnival Mall has opened two months ahead of schedule on May 7, 2025, instead of in July 2025.' Chen said the completion of the final refurbishment phase was notable as it involved the largest number of tenants and was expected to further lift Sunway Carnival Mall's NPI in the coming quarters. It also marked the completion of a RM800mil, seven-year expansion and rejuvenation effort, firmly establishing the mall as a must-visit destination in mainland Penang. 'Looking ahead, we have strong conviction on Sunway REIT's performance in financial year 2025 driven by the early completion of Sunway Carnival Mall's refurbishment, improving occupancy at Sunway REIT Industrial – PJ1 which is aided by pivoting supply chains and the anticipated completion of the AEON Mall Seri Manjung acquisition in 3Q25,' he said. 'Nevertheless, Sunway REIT is mindful of the potential challenges posed by a volatile macro-economic environment including the possibility of a trade war, impending sales and service tax expansion and fuel subsidy rationalisation,' he added. Sunway REIT has recently proposed the disposal of the Sunway university & college campus for RM613mil with two main objectives. 'Firstly, we are able to de-gear and preserve balance sheet strength while providing us with a war chest to capitalise on opportunistic acquisitions when they arise. 'Secondly, it aligns with Sunway REIT's strategic asset recycling initiative to monetise capital gains and proactively redeploy capital into assets that offer higher yields, growth potential or stronger strategic alignment with our long-term objectives,' Chen said.
