YTL Hospitality Real Estate Investment Trust's (YTL REIT) net property income (NPI) rose to RM66 million in 2QFY23 from RM55 million in the preceding quarter, while income available for distribution increased to RM27 million from RM17.
The most notable jump was recorded by the group’s property development segment, whose revenue leapt 140.
Unitholders also approved a private placement of up to 1.
Perak Transit said in a filing to Bursa Malaysia on Thursday (Feb 23) that the acquisition was done on Thursday but the transacted price was not disclosed.
The property developer posted a net profit of RM20.
“With a strong pipeline of projects that are rightly designed for the current market conditions and targeting the right buyer segment, we are confident to achieve our sales target of RM 2.
The group, which is seeking additional funds for the second phase of its 760-acre Andaman Island project, expects to have around RM500 million cash in hand next year despite downsizing its rights issue that was first proposed in February 2022.
IGB noted that the outlook of the office market in the near term remains volatile as there is an imbalance in the office supply-demand dynamics coupled with the fierce competition.
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