PETALING JAYA: Sentral Real Estate Investment Trust (Sentral REIT), formerly known as MRCB Quill REIT, posted a 3% rise in realised net income to RM22.11mil for the third quarter ended Sept 30, from RM21.48mil a year earlier.

       However, its revenue for the quarter fell slightly to RM40.16mil from RM41.71mil previously.

       In a filing with Bursa Malaysia yesterday, the group attributed the growth to lower property operating expenses and finance cost despite reduced revenue contribution from its portfolio of assets.

       Sentral REIT manages nine assets including the Platinum Sentral Building at KL Sentral, Menara Shell, Quill office buildings and Tesco Building in Penang, valued at RM2.09bil as at Dec 31, 2020.

       Cumulatively, for the period from January to September 2021, Sentral REIT posted an 8.5% increase in realised net income to RM65.45mil from RM60.34mil in the same period last year.

       No income distribution was declared for the third quarter. Year-to-date, Sentral REIT has distributed 3.43 sen per unit or about 3.8% yield based on its yesterday’s closing price at 90 sen per share.

       Sentral REIT Management Sdn Bhd (SRM) chairman Tan Sri Saw Choo Boon said: “As the national vaccination programme continues to make good headway, we are looking forward to the progressive reopening of various economic sectors and also a healthy rebound in the property sector by the end of this year.”

       CEO Yong Su-Lin said the group’s proactive leasing efforts have kept Sentral REIT’s portfolio occupancy at a healthy 91% as at Sept 30, resulting in a stable performance for the quarter.