Al-Salām Real Estate Investment Trust (Al-Salām REIT) saw its profit after tax surge 85.7% year-on-year to RM11.7 million in 1H26, driven by lower property expenses and reduced finance costs following the refinancing of its RM455 million Sukuk Wakalah Programme.
Revenue for 1H26 also rose 4.1% to RM45.2 million from RM43.5 million, supported by higher contributions from Komtar JBCC on stronger average rental rates and improved occupancy at Menara Komtar.
Net property income increased to RM31.9 million from RM29.5 million, while finance costs declined following savings from the Sukuk Wakalah Programme completed in November 2025 at a lower profit rate than previous financing facilities.
The retail segment recorded revenue of RM27.5 million and net property income of RM17 million, supported by stronger rental performance at Komtar JBCC. The office segment also improved, with occupancy rising to 92% from 90% a year earlier.
Al-Salām REIT declared a second interim income distribution of 0.86 sen per unit, bringing its 1H26 distribution to 1.82 sen per unit, up 85.7% from 0.98 sen a year earlier.
Chief Executive Officer Zulhilmy Kamaruddin said the REIT will continue focusing on active asset management, leasing initiatives and disciplined cost management, while positioning Komtar JBCC to benefit from increased cross-border traffic following the Johor Bahru-Singapore RTS Link.
