KIP-REIT achieves 5% increase in 1Q profit

KIP-REIT Management Sdn Bhd executive director Datuk Eric Ong Kook Liong

KUALA LUMPUR: The reopening of the local economy has helped KIP Real Estate Investment Trust (KIP-REIT) post a 5% year-on-year (y-o-y) increase in earnings to RM8.8mil or 1.61 sen per unit for the first quarter ended Sept 30 (1Q23).

The profit growth was in tandem with a 12.9% y-o-y rise in gross revenue to RM19.3mil.