YTL Hospitality REIT Records 3rd Quarter Revenue of RM126 Million& Distributable Income of RM33 Million
Distribution of 1.9116 Sen per Unit Declared
Kuala Lumpur, Friday 31 May 2019 - YTL Hospitality REIT recorded revenue of RM125.9 million for the quarter ended 31 March 2019 compared to RM132.5 million for the previous quarter ended 31 December 2018. Net property income decreased slightly to RM67.4 million this quarter compared to RM69.3 million for the previous quarter. Distributable income remained relatively stable at RM32.6 million for the quarter under review compared to RM33.0 million for the previous quarter.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, "The Trust's Australian Properties registered a decrease in revenue and net property income due to the refurbishment exercise carried out at Brisbane Marriott which commenced in the first quarter, coupled with the weakening of the Australian Dollar against the Malaysian Ringgit.
"The Trust's Japanese properties continued to perform well, with higher net property income for the current quarter, whilst revenue and net property income from the Trust's Malaysian Properties also remained stable for the quarter under review.”
For the cumulative 9 months ended 31 March 2019, YTL Hospitality REIT recorded revenue of RM372.2 million, compared to RM384.4 million for the preceding corresponding 9 months ended 31 March 2018, whilst net property income increased to RM193.0 million for the 9 months ended 31 March 2019 over RM190.7 million for the same period last year. Income available for distribution stood at RM98.4 million for the 9 months under review compared to RM100.6 million last year.
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9116 sen per unit, the book closure and payment dates for which are 18 June 2019 and 28 June 2019, respectively.
The total income distribution amounts to RM32.6 million, representing approximately 100% of the total distributable income for the current quarter ended 31 March 2019, whilst the total income distribution paid and declared for the cumulative 9 months ended 31 March 2019 is 5.7722 sen per unit, totalling RM98.4 million and representing approximately 100% of the total distributable income.
Please view the Quarterly Report here