Sentral REIT Management Sdn Bhd achieved a realised net income of RM19.9 million for the first quarter of 2024, this constitutes an increase of approximately 12.6% from the realised net income of RM17.77 million recorded for the first
quarter of 2023 (“1Q 2023”).
The manager said the higher realised income for the quarter was mainly due to higher realised revenue from Sentral Building 4, Platinum Sentral and Sentral Building 3 – BMW as well as revenue contribution from Menara CelcomDigi for the full quarter, net of higher property expenses and finance cost.
Correspondingly, SENTRAL recorded a realised earnings per unit (“EPU”) and distributable income per unit of 1.66 sen which is approximately 1.0% higher than the EPU and distributable income per unit of 1.65 sen recorded in 1Q 2023.
Derek Teh Wan Wei, Chief Executive Officer of SRM said: “SENTRAL has approximately 282,000 sq. ft. or 14% of its total committed lettable space scheduled for renewal in 2024, with 46,000 sq. ft. of these leases expiring in the 1Q 2024. It successfully renewed 83% of these leases due in 1Q 2024 and consequently, its average occupancy rate was secured at 88%. In alignment with ongoing tenant retention strategies, we have initiated early negotiations for some leases expiring in the remaining quarters of 2024. Simultaneously, advanced marketing efforts have commenced to lease out vacant spaces
coming on stream, with the aim to sustain the portfolio’s occupancy rate this year.”
