PETALING JAYA: Sentral Real Estate Investment Trust (Sentral REIT) expects the Klang Valley office and retail markets to remain challenging.

       In a filing with Bursa Malaysia, the company said it will continue to focus on asset management and leasing strategies that are centred on cost optimisation and tenant retention in the current operating environment.

       For the fourth quarter ended Dec 31, 2023 reported a net profit of RM19.21mil, compared with a net loss of RM4.74mil in the previous corresponding period, mainly due to fair value adjustments on investment properties.

       Revenue in the fourth quarter rose to RM46.66mil from RM36.39mil a year earlier, mainly due to higher revenue generated from Platinum Sentral, Menara CelcomDigi and Menara Shell.

       Basic earnings per share stood at 1.88 sen versus 1.55 sen previously.

       For the financial year ended Dec 31, 2023, Sentral REIT’s net profit rose to RM72.71mil from RM52.27mil in the previous corresponding period, while revenue improved to RM162.11mil from RM147.35mil previously.