MRCB quill declares 3.43 sen DPU for MQREIT

KUALA LUMPUR, MRCB Quill Management Sdn Bhd (MQM), the manager of MRCB-Quill REIT (MQREIT), has declared a distribution per unit (DPU) of 3.43 sen for the six months ended June 30, 2019, translating to a yield of 6.35 per cent.

The DPU would likely be distributed on Sept 23, 2019.

“MQREIT recorded a first half 2019 (19) distributable income and distributable income per unit of RM36.76 million and 3.43 sen respectively, the trust manager said in a statement.

During the second quarter, MQREIT’s net income decreased by 29.9 per cent to RM16.45 million, largely due to lower income contribution from Platinum Sentral , Wisma Technip and Quill Building 5-IBM, as well as the extraordinary gain from the disposal of Quill Building 8-DHL (XPJ).

MQM chief executive officer Yong Su-Lin said in the 19, the trust secured new leases of approximately 123,000 sq ft for a few of its properties with demand coming from the oil and gas, IT services and retail sectors.

While there will be some downtime during the transition period between the outgoing tenants and the commencement of the new leases, we expect income contribution from these new leases to commence and stabilise by the last quarter of 2019, she added.

Source: BERNAMA (News Agency)