Sentral REIT Achieved Stable 1Q 2022 Realised Net Income of RM20.4 million

Sentral REIT Management Sdn Bhd (“SRM”), the manager of Sentral REIT (“SENTRAL”), a listed real estate investment trust, wishes to announce that SENTRAL achieved a realized net income of RM20.4 million for the first quarter of 2022 (“1Q 2022”).

This is a marginal decrease of approximately 1.6% from the realised net income of RM20.7 million recorded for the first quarter of 2021 (“1Q 2021”). The lower realised income for the quarter was mainly due to lower realized revenue net of lower property expenses and finance cost.

Correspondingly, SENTRAL recorded a realised earnings per unit (“EPU”) and distributable income per unit of 1.90 sen which is approximately 1.6% lower than the EPU and distributable income per unit of 1.93 sen recorded in 1Q 2021.

Tan Sri Saw Choo Boon, Chairman of SRM said: “The gradual move to the endemic phase is expected to augur well for the Klang Valley office market. While we may still experience some fluctuation in earnings, we remain optimistic that SENTRAL’s operation will be able to weather these market uncertainties over time. We will continue to focus on tenant retention to maintain a stable occupancy and healthy weighted average lease expiry (“WALE”) for SENTRAL’s asset portfolio.”

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