The pieces of land have been sold to PMJ Parkland Avenue Sdn Bhd and Parkland Diversified Sdn Bhd. The two related companies are involved in property development and investment holdings.
Kim Hin said the compensation money will be utilized partially to fund the reconstruction costs of the affected buildings and facilities and the related relocation costs. The excess will be kept for future investment purposes.
In a filing with Bursa Malaysia, the REIT said the 12.6% increase in master leases to RM36.3 million was mainly due to the acquisition of The Green Leaf Niseko Village in September 2018 and additional rental from JW Marriott Hotel Kuala Lumpur effective July 2019, after completion of the reimbursement for renovation costs paid by the lessee.
...on improved earnings from the property development, manufacturing and quarrying, plantation and infrastructure divisions.
The group has declared an interim dividend of 1.5 sen per share for FY19, which is payable on Jan 6, 2020.
Quarterly revenue, however, contracted 24% to RM327.61 million from RM430.1 million in 3QFY18, due to lower settlement of Aurora Melbourne Central and Conservatory, and lower sales of completed units, its stock exchange filings today showed.
This resulted in a higher earnings per share of 3.6 sen for 1QFY20 compared with 3.3 sen for 1QFY19.
As a result, its earnings per share was higher at 5.28 sen for 3QFY19 compared with 5.07 sen for 3QFY18.
"It's been 36 years since [the] longhouse people were promised accommodation and DBKL is doing its best to deliver it to them. DBKL asked me whether I would do it free of charge for them, and I said yes," Sri Ram said.
In a Bursa Malaysia filing, the group said revenue for the quarter slipped to RM263.33 million from RM269.89 million a year ago.
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