PETALING JAYA: UOA Real Estate Investment Trust (UOA REIT) will continue to actively manage the properties in its portfolio with prudent capital management to maximise yields for unitholders.
In a filing with Bursa Malaysia, UOA REIT economic growth and the soft market conditions remain pivotal factors influencing the occupancy and rental rates of its properties.
“Despite the prevailing challenges, we anticipate a gradual improvement in 2024.
“The manager maintains a hopeful outlook on the market while also exercising a cautious stance.
UOA REIT’s net profit for the fourth quarter ended Dec 31, 2023 dipped to RM11.38mil from RM13.81mil in the previous corresponding period,
Revenue in the fourth quarter was lower at RM27.30mil compared with RM28.30mil a year earlier, while basic earnings per share 1.68 sen versus 2.04 sen previously.
