Al-‘Aqar KPJ REIT improves Q2 profit

Al-‘Aqar KPJ REIT’s pre-tax profit for the second quarter ended June 30, 2011 rose to RM11.12 million from RM10.95 million in the same period last year.

Revenue rose to RM19.819 million from RM17.214 million previously.

In a filing to Bursa Malaysia today, the company said the increase was mainly due to new rental income contributed by KPJ Tawakkal Specialist Hospital and additional building of Johor Specialist Hospital, which was acquired in July and December 2010, respectively.

“Both properties had contributed approximately RM2.8 million, or 15 per cent, of rental income recorded during the quarter,” it said. — Bernama

QSR buys 1.94 million KPJ REIT units

PETALING JAYA: QSR Brands Bhd has acquired 1.947 million units in KPJ Real Estate Investment Trust (REIT) from the open market on July 20 for about RM2.012mil.

The purchase was funded via internally generated funds.

QSR said in a filing with Bursa yesterday that the acquistion was based on better return on investment of about 7.3% (based on current dividend yield) as against the current fixed deposit interest rate of about 2.5% to 3.0%.

KPJ REIT is managed and administered by Johor Corp Bhd subsidiary, Damansara Assets Sdn Bhd. Johor Corp also owns 50.35% stake in Kulim (M) Bhd, which in turn has a 61% stake in QSR.

QSR buys 1.95m units of KPJ REIT

QSR Brands Bhd has bought some 1.95 million units of KPJ REIT for RM2.01 million from the open market.

The reason for the purchase was because QSR has a better return on investment of roughly 7.3 per cent (dividend yield) against a fixed-deposit interest rate of 2.5 per cent to 3 per cent.

“There is also opportunity of capital appreciation given the KPJ REIT’s future acquisition plans and the stable income stream from the tenants of its properties,” QSR told Bursa Malaysia yesterday.