KUALA LUMPUR: Pavilion Real Estate Investment Trust (REIT) posted a net profit of RM12.4mil for the fourth quarter ended Dec 31, 2011 on revenue of RM22.5mil.
Pavilion REIT was listed on Bursa Malaysia on Dec 7, 2011.
In the notes accompanying its results, Pavilion REIT said gross revenue for the period totalled RM22.5mil and net property income was RM16.3mil.
Management fees and borrowing costs incurred during the period were RM1.2mil and RM2.3mil respectively resulting in income before taxation of RM12.4mil.
Its distributable income for the period under review amounted to RM13.1mil, or 0.44 sen per unit, consisting of realised income of RM12.4mil and non-cash adjustments of depreciation, amortisation of borrowings transaction cost of RM100,000 and surplus cash arising from 50% of manager's management fee payable in units of RM600,000.
By The Star
Thursday, February 9, 2012
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