PETALING JAYA: Sentral real estate investment trust (REIT) will focus on asset management and leasing strategies which are centred on cost optimisation and tenant retention in the current operating environment.
In a filing with Bursa Malaysia, the REIT said the competitive office segment in which it operates is poised to see around a 2.3 million sq ft supply pipeline that’s scheduled to come on-stream by the end of this year.
For the fourth quarter ended Dec 31, 2024 Sentral-REIT saw its basic earnings per unit falling some 16% year-on-year (y-o-y) to 1.58 sen.
This is due to enlarged total units in circulation and a fall in net income to RM17.89mil. Revenue rose to RM48.21mil from RM46.66mil. Its distribution per unit fell y-o-y by 4.8% to 6.36 sen in financial year 2024 from 6.68 sen before.