PETALING JAYA: KIP Real Estate Investment Trust
(KIP-REIT) reported stronger financial performance for the third quarter ended March 31, 2026 (3Q26), supported by contributions from existing assets and newly acquired properties, while proposing a RM435mil acquisition to further expand its portfolio.
Quarterly gross revenue rose 12.9% to RM44.6mil from RM39.5mil a year earlier, while net property income increased 17.6% to RM32.3mil.
Profit after tax grew 31.4% to RM18.2mil.
Moreover, for the nine-month period, gross revenue climbed 33.9% to RM128.9mil, with profit after tax rising 47.5% to RM52.9mil.
Furthermore, the retail segment remained the main contributor, accounting for 92.7% of revenue, while the industrial segment posted growth of 86%, albeit from a lower base.
In line with its performance, the group proposed a third income distribution of RM16.6mil, or 1.73 sen per unit, bringing year-to-date distribution per unit to 5.23 sen, up 9.4% from the previous year.
Separately, KIP-REIT has entered into a conditional agreement to acquire Setapak Central, a shopping mall in Kuala Lumpur, for RM435mil.
The asset, which has a 99.9% occupancy rate and net lettable area of 514,777 sq ft, is expected to expand the group’s portfolio by 15.6% and deliver a yield of 7.2%.
Chief executive Valerie Ong said: “Our performance this quarter reflects the positive outcomes of a focused rental and retail strategy, disciplined cost management, and successful integration of our recent acquisitions.”
