KIP REIT’s 3Q net property income jumps 52% on strong mall, new asset performance

• The company said revenue rose 61.1% year-on-year to RM39.54 million, supported by high occupancy in its retail portfolio, which stood at 97.2%. Retail contributed 95.6% of total revenue, while industrial assets made up 4.4%.

KUALA LUMPUR (April 22): KIP Real Estate Investment Trust (KL:KIPREIT) reported a 51.9% increase in net property income (NPI) for the third quarter ended March 31, 2025 (3QFY2025), rising to RM27.48 million from RM18.09 million a year earlier.

The jump was driven by stronger performance from its malls and newly acquired assets — D'Pulze Shopping Centre in Cyberjaya, TF Value in Perak and industrial asset CR35.

Even without new assets, KIP REIT’s existing KIPMall portfolio recorded a strong 23.3% year-on-year growth, driven by higher occupancy, steady rental increases and the addition of ST Rosyam Mart as an anchor tenant at KIPMall Senawang.

In a filing with Bursa Malaysia, the company said revenue rose 61.1% year-on-year to RM39.54 million, supported by high occupancy in its retail portfolio, which stood at 97.2%. Retail contributed 95.6% of total revenue, while industrial assets made up 4.4%.

KIP REIT declared a distribution per unit (DPU) of 1.60 sen, payable on May 30, unchanged from last year.

For the nine-month period (9MFY2025), net profit rose 33.8% to RM68.77 million, with cumulative revenue up 38.4% to RM96.24 million.

Looking ahead, CEO Valerie Ong in a separate statement said the trust is cautiously optimistic, as it expects further contributions from recent acquisitions such as the D'Pulze Shopping Centre, which has yet to show its full earnings impact. The REIT also aims to sustain stable performance through improved leasing and operational strategies.

“We continue to strengthen our foothold in community-centric neighbourhoods, a core part of our strategy that ensures relevance, resilience and connectivity to the communities we serve. Our recent acquisition proposals, ESG-linked retrofit partnership and development collaboration with AEON underscore our commitment to expand the portfolio strategically while embedding long-term sustainability across our operations,” she said.

KIP REIT's shares inched up to 86 sen as at the time of writing on Tuesday morning, giving it a market capitalisation of RM686.8 million.

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