KIP Reit slips into net loss in Q4 on investment properties

However, KIP Reit told the stock exchange that its realised profit after tax for the fourth quarter was RM8.2mil, if the change in property fair value was removed.

PETALING JAYA: KIP Real Estate Investment Trust (Reit) recorded its first quarterly net loss in the fourth quarter ended June 30, after it posted a RM13.2mil unrealised fair value loss on investment properties following the annual valuation exercise.

The net loss for the April-June 2020 period was RM5mil as compared to a net profit of RM11.53mil a year earlier.