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Tuesday, 8 August 2017

(The Star) Tower REIT profit slips to RM4.8m

PETALING JAYA: Tower Real Estate Investment Trust’s (REIT) net profit for its second quarter ended June 30, 2017 slipped 12% to RM4.79mil compared to RM5.44mil in the previous corresponding period, lower occupancy rate in HP Tower and higher property operating expenses.

In a filing with Bursa Malaysia yesterday, it said revenue in the second quarter dropped to RM8.88mil compared with RM9.37mil a year earlier.

For the six-months period ended June 30, 2017, Tower REIT recorded a net profit of RM10.14mil compared with RM11.77mil in the previous corresponding period, while revenue was lower at RM17.68mil compared with RM18.98mil a year ago.