QCT – BT

QCT records higher pretax profit for 1H

Quill Capita Trust (QCT), a real estate investment trust (REIT), has recorded a higher pre-tax profit of RM16.443 million in the first six months ended June 30, 2010, compared to RM15.44 million in the same period last year.

Its revenue increased 2.8 per cent to RM34.54 million from RM33.58 million previously, said the REIT manager, Quill Capita Management Sdn Bhd (QCM), in a statement today.

QCM chairman Datuk Mohammed Hussein said the long-term and reputable tenants had generated a higher rental income that contributed to QCT’s strong performance.

QCM chief executive officer Chan Say Yeong said the resilient performance of QCT was supported by stable income contribution from its pool of blue-chip tenants.

“Moving forward, the manager will continue with its prudent capital management strategy, focusing on active asset management to grow the value of its portfolio and building strong tenant relationship to ensure high retention rates,” Chan said. — BERNAMA