Tower REIT falls short in net trust income for Q1

“However, net trust income for the current quarter decreased by 23.2% compared to the corresponding quarter in the preceding year mainly due to higher interest expense and the one off expenses related to the acquisition of Menara Guoco, ” it said in a filing with Bursa Malaysia

PETALING JAYA: Tower Real Estate Investment Trust (REIT) saw its first-quarter net trust income falling to RM1.57mil from RM2.04mil in the same quarter a year ago.

This is despite gross revenue for the quarter, which ended on Sept 30, rising to RM6.51mil from RM5.66mil a year ago.