Latest news with #UOARealEstateInvestmentTrust
The Star
6 days ago
- Business
- The Star
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.'
The Star
06-05-2025
- Business
- The Star
UOA-REIT posts reduced quarterly bottom line
The investment manager is continuing to seek potential yield-accretive acquisition opportunities that align with its strategic objectives. PETALING JAYA: UOA Real Estate Investment Trust (UOA-REIT) is expecting the demand for office space to continue to improve gradually, believing its completed asset enhancement initiatives will help to generate interest on the older buildings in its portfolio. 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 actually 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 a filing with Bursa Malaysia. Compared to the preceding quarter ended Dec 31, 2024, earnings actually jumped 89.9% from RM5.2mil. This was despite revenue actually remaining flattish.
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
