SunREIT likely to deliver modest earnings growth in Q2

PETALING JAYA: Sunway Real Estate Investment Trust (SunREIT) is expected to deliver modest earnings growth in the second quarter ended Dec 31, 2016, with a resilient retail segment and a gradual recovery in office occupancy offsetting the weak hotel operation.

“We expect SunREIT to report a core net profit of RM64mil to RM67mil in the second quarter, up by a modest 3% to 4% year-on-year, driven by its retail operation and improved occupancy in the office segment (particulary at Sunway Putra Tower), which will mitigate the weaker performance of its hotel segment.