YTL Hospitality REIT Records 1st Quarter Revenue of RM114 Million & Distributable Income of RM33 Million
Distribution of 1.9219 Sen per Unit Declared
Kuala Lumpur, Friday 23 November 2018 - YTL Hospitality REIT recorded revenue of RM113.9 million for the 3 months ended 30 September 2018, compared to RM116.6 million for the previous quarter ended 30 June 2018, whilst net property income stood at RM56.3 million this quarter compared to RM58.1 million last quarter. Distributable income was largely stable at RM32.8 million for the quarter compared to RM33.5 million last quarter.
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, CBE, FICE, Chief Executive Officer of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “In the Trust's international portfolio, revenue and net property income from the Australian properties decreased mainly as a result of a refurbishment exercise carried out during the quarter, as well as the weakening of the Australian Dollar against the Malaysian Ringgit. The Trust's Japanese properties, meanwhile, registered higher revenue due to the acquisition of The Green Leaf Niseko Village in September 2018, but lower net property income due to one-off costs incurred in relation to the acquisition. Performance of the Trust's Malaysian properties remained stable.”
The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.9219 sen per unit, the book closure and payment dates for which are 7 December 2018 and 28 December 2018, respectively. The total income distribution amounts to RM32.8 million, representing approximately 100% of the total distributable income for the financial quarter ended 30 September 2018.
Please view the Quarterly Report here.