Chew: This improvement in our results is reflective of our increasing growth appetite and commitment to create greater value for our unit holders.
PETALING JAYA: KIP Real Estate Investment Trust
(REIT) has more than doubled its net profit on a year-on-year (y-o-y) basis for the first quarter of the financial year ending June 30,2020 (FY20) at RM18.5mil, as compared to RM7.26mil during the same quarter in FY19.
This was on the back of changes in the fair value of investment property incidental to the Aeon Mall Kinta City acquisition of RM13.2mil.However, this was partially offset by a one-off expense of RM3.5mil related to the acquisition.
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