Latest news with #UOAREIT
The Star
06-05-2025
- Business
- The Star
UOA REIT sees improving office demand
PETALING JAYA: UOA Real Estate Investment Trust (UOA REIT) expects demand for office space to continue improving gradually, supported by its completed asset enhancement initiatives aimed at attracting interest in its older buildings. While keeping the gearing within the permissible threshold, the investment manager is continuing to seek potential yield-accretive acquisition opportunities that align with its strategic objectives. Releasing its results for the first quarter ended March 31 yesterday, UOA REIT saw net profit dropping by 14.6% year-on-year to RM10mil, despite income improving by 13.3% to RM29.7mil, driven by better occupancies. However, the REIT saw increased total expenditure amounting to RM20.3mil, primarily attributable to elevated property operating expenses and heightened maintenance costs, which led to the decreased profit for the quarter. 'Realised earnings per unit for the quarter under review has decreased from 1.73 sen to 1.47 sen,' it said in the statement to Bursa Malaysia. Compared to the preceding quarter ended December 31, 2024, net earnings jumped 89.9% from RM5.2mil, despite revenue remaining flattish.
Malaysian Reserve
06-05-2025
- Business
- Malaysian Reserve
UOA REIT sees 3.6% decline in 1Q net rental income due to higher maintenance costs
UOA Real Estate Investment Trust (UOA REIT) reported a 3.6% decline in net rental income for the first quarter ended March 31, 2025 (1Q25), from RM18.48 million in the same period a year earlier, primarily due to increased maintenance costs. Net rental income dropped to RM17.81 million from RM18.48 million in the same period last year. Despite a 13.25% rise in gross rental income to RM29.69 million, driven by improved occupancies, property operating expenses surged by 53.5% to RM11.88 million, mainly from higher maintenance costs. Looking ahead, UOA REIT anticipates gradual improvement in office demand for FY2025 and plans to enhance its older properties further. The trust also said it continues to explore yield-accretive acquisitions. Units of UOA REIT closed at 80.5 sen today, down 1.5 sen or 1.8%, valuing the property trust at RM543.9 million. — TMR
