KUALA LUMPUR: KIP Real Estate Investment Trust
(REIT) recorded a sharply higher earnings quarter as it received a boost to its property valuations following an assessment of its properties.
In a statement, the REIT said it recorded a revaluation surplus of RM61.8mil on the annual fair value assessment of 14 investment properties as at June 30, 2025, conducted by Rahim & Co.
"The gain reflects appreciation across the portfolio, notable from newly acquired assets such as D’Pulze Shopping Centre, TF Value-Mart and the Cheras Jaya industrial property, as well as from matured KIPMalls including Kota Warisan, Masai and Tampoi, which recorded double-digit fair value gains," it said in a statement.
In the fourth financial quarter ended June 30, 2025, KIP REIT recorded a 6.1% higher year-on-year (y-o-y) net property income (NPI) of RM28.1mil, while net profit was nearly five times higher at RM79.25mil.
Revenue jumped 22.2% y-o-y to RM39.9mil on the back of contributions from 7 KIPMalls, D’Pulze Shopping Centre, TF Value-Mart, as well as its portfolio of four industrial properties, especially the Cheras Jaya asset.
Portfolio occupancy stood at a robust 97.8% during the quarter.
Over the entire financial year, the REIT's net profit surged to RM115.14mil from RM47.31mil in the previous year, while revenue rose to RM136.13mil from RM102.16mil in FY24.
"We are pleased with our FY2025 performance, which underscores the effectiveness of our disciplined growth strategy and unwavering focus on delivering resilient, long-term returns.
"The acquisition of high-yielding, community-focused assets such as D’Pulze and TF Value-Mart has not only strengthened our earnings base but also reinforced the defensive nature of our retail portfolio," said KIP REIT CEO Valerie Ong.
The REIT Manager proposed a final income distribution of 2.018 sen per unit for 4QFY25, with book closure date fixed for Aug 8, 2025, and payment on Aug 29, 2025.
