Sunway-REIT hopeful of GDP, OPR effects

Sunway-REIT's second-quarter net profit fell marginally year-on-year by 3.1% to RM72.2mil on a 15.2% higher revenue of RM166.5mil.

PETALING JAYA: Sunway Real Estate Investment Trust (Sunway-REIT) is cautiously optimistic about its 2023 outlook, underpinned by a stable gross domestic product (GDP) growth projection of between 4% and 5%.

The investment manager said its prospects are further supported by the expectation of sustained growth momentum of the retail segment of its business, further recovery in the hotel division, full year income contribution from the new wing of Sunway Carnival Mall in Penang and from Sunway Resort Hotel upon full completion of its refurbishment.