KIP REIT plans to diversify asset portfolios

KIP REIT Management Sdn Bhd executive director Datuk Eric Ong Kook Liong said the financial performance of the first-quarter period was within management’s expectations amid the disruptions caused by the Covid-19 pandemic.

KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT) reported a lower net profit of RM8.37mil in its first quarter ended Sept 30, 2021, compared with RM8.85mil in the previous corresponding period.

In a filing with Bursa Malaysia yesterday, it said revenue in the first quarter was lower at RM17.14mil compared with RM18.23mil a year earlier.