UOA REIT posts RM7.6mil net profit in fourth quarter

In a filing with Bursa Malaysia UOA said that despite lower revenue, it managed to record profits for the quarter in review, owing to reduced borrowing costs and tax expense as well as a gain of RM1.76mil on investment properties.

PETALING JAYA: UOA Real Estate Investment Trust (REIT) returned to the black, with a net profit of RM7.55mil in the fourth quarter (Q4) ended Dec 31,2020, compared to a net loss of RM9.81mil a year earlier.

Despite lower revenue, it managed to record profits for the quarter in review, owing to reduced borrowing costs and tax expense as well as a gain of RM1.76mil on investment properties.