KIP REIT

KIP REIT aims for RM2bil AUM KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT) aims to scale up its operation and increase total assets under management to RM2bil in the next three years, according to chief executive officer Valerie Ong Pui Shan.

KIP REIT Q3FY2024 Financial Performance Commentary

KIP产托第3季净赚1023万|中國報 （吉隆坡23日讯）KIP产托（KIPREIT，5280，主要板产托）截至3月底2024财年第3季净利报1023万令吉，按年微跌2.8%，并宣布每股派息1.6仙。...

KIP产托第三季赚1023万 派息1.6仙 - 财经 - 焦点财经 （吉隆坡23日讯）公用事业费用增加导致，KIP产托（KIPREIT,5280,主板产业投资信托组）净房产收入赚幅下滑，截至2024年3月31日第三季净利按年下滑2.82％，从去年同期的1052万7000令吉减至1023万令吉。根据文告，首3季净利起13.9％，.....

KIP REIT’s 3Q net property income up 10.1%, to double AUM in three years KUALA LUMPUR (April 23): KIP Real Estate Investment Trust (KIP REIT), a trust which mainly manages retail and industrial properties, said its net property income (NPI) for the third quarter rose 10.1% from a year ago, mainly due to stronger performance from its retail properties.

第三季净赚1023万 KIP产托派息1.6仙 KIP产托在2024财政年第3季（截至3月底）保持稳定业绩，净赚1023万令吉，同比微跌2.82%，并派发每股1.6仙股息。

Untung bersih KIP REIT pada 3QFY24 susut kepada RM10.23 juta | DagangNews KUALA LUMPUR 23 April - Untung bersih KIP Real Estate Investment Trust (REIT) bagi suku ketiga berakhir 31 Mac 2024 (3QFY24) susut kepada RM10.23 juta berbanding RM10.53 juta yang dicatatkan bagi tempoh sama tahun lalu.

Introducing our new logo! Designed with dynamism to mirror KIP REIT’s forward-thinking ethos, it signifies our readiness to tackle new horizons. The green hue embodies harmony, balance, and growth – values integral to our vision for a thriving future. This milestone isn’t just about aesthetics; it underscores our pledge to environmental responsibility, as we forge ahead towards sustainability. Stay tuned as we embark on this exciting journey together! 🌱

KIP REIT Starts New Path With Logo Change

KIP REIT Starts New Path With Logo Change KIP Real Estate Investment Trust unveiled its new company logo after, since its establishment back in November 2016. The real estate manager said the new logo reflects the group’s journey into a new era, in addition to its commitment towards robust growth, innovation and sustainability. Chief Exec...

KIP产托推新标志 KIP产托（KIPREIT，5280，主板产业信托股）推出新标志，象征进入新时代的新征程，拥抱增长和永续发展举措。

KIPMall Kota Warisan selesai dijual pada harga RM 80 juta.

KIPMall Kota Warisan selesai dijual pada harga RM80 juta | Berita Harian KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT) hari ini mengumumkan penyelesaian cadangan pengambilalihan KIPMall Kota Warisan daripada Cahaya Serijaya Sdn Bhd pada harga RM80 juta.

KIP REIT completes acquisition of KIPMall Kota Warisan

KIP REIT completes acquisition of KIPMall Kota Warisan for RM80mil KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT) has completed the acquisition of KIPMall Kota Warisan from Cahaya Serijaya Sdn Bhd for RM80mil.

KIP REAL ESTATE INVESTMENT TRUST
Q2FYE2024 FINANCIAL RESULTS BRIEFING – 31 JANUARY 2024

INTRODUCTION

Today, KIP Real Estate Investment Trust (“KIP REIT”) had their Q2FYE2024 briefing with the analysts and fund managers to elaborate on the quarter’s financial performances, updates on their portfolios and growth strategies, moving forward.

BACKGROUND ON KIP REIT
KIP REIT is principally involved in investing a portfolio of retail real estate properties. All properties are strategically located in the suburban areas and concentrated in residential, commercial and industrial areas within a five-kilometre radius of catchment areas. Following the change in its investment policy as of 12 October 2020, KIP REIT is able to invest in real estate used for retail, industrial and commercial purposes to enhance its portfolio.
Currently, KIP REIT has a portfolio of 10 properties, which comprises 3 industrial properties in Pulau Indah, Port Klang and 6 KIPMalls located in Bangi, Tampoi, Kota Tinggi, Masai, Senawang and Melaka as well as 1 AEON Mall Kinta City in Ipoh. It has a total net lettable area of over 1.8 million square feet and total asset value of approximately RM964 million as at 30 June 2023.

SUMMARY OF Q2FYE2024’S FINANCIAL PERFORMANCE
KIP REIT recorded the BEST second quarter earnings ever. Year-on-year, gross revenue was 12% higher at RM22.6 million, while net property income (“NPI”) was at RM16.8 million, up 10.7%. Profit after tax and distributable income, in turn grew 31.0% and 30.6% respectively to RM10.6 million and RM10.9 million. The average occupancy rate for the 3 months period was at 94.7%.
On a cumulative 6 months period, revenue was up 13.7% to RM45 million, as a result of an improvement in the occupancy rate for the retail segment, coupled with the lease income coming from the 3 newly acquired industrial properties at Pulau Indah, Klang. NPI was registered at RM33.3 million, an increase of 12.9%, while PAT rose 24.3% to RM21.0 million. Likewise, distributable income was up 23.9% to RM21.6 million, translating to the distribution per unit of 3.1 sen.

STATUS OF THE ACQUISITION OF KIPMALL KOTA WARISAN
The acquisition represents 8.29% of KIP REIT’s total assets at the value of RM964 million. This mall is expected to yield an annual rate of approximately 10% with the current occupancy rate of 99%. This acquisition, expected to complete by February 2024 represents an immediate earnings accretive, whereby rental contribution is expected to be in February itself, upon the completion of the acquisition.

ASSET ENHANCEMENT INITIATIVES (“AEI”)
The facelift programme for KIPMall Bangi is ongoing and is targeted to complete in February 2024. Currently, the occupancy rate is at 81.2% and upon the completion of the programme, KIP REIT is cautiously optimistic that the occupancy rate will be increased to over 90%.
For FY2024, additional AEI will be implemented, including renovation for a new supermarket, ST Rosyam at KIPMall Senawang, covering an area of 51,000 sq ft. The renovation is expected to complete by September 2024. There will also some minor enhancements and upgrades executed at KIPMall Masai, Kota Tinggi, Tampoi and Melaka, focusing on improvements to sanitary facilities.
For FY2025, the approved AEI is capped at RM3.6 million, to focus on improvement of sanitary facilities and surau.

OCCUPANCY RATES
The average occupancy rate for the second quarter was 94.7%. It is worth noting that the average occupancy rate for KIPMall Kota Tinggi has increased to 93.1% from 84.4% in the last quarter. The increase in KIPMall Kota Tinggi was mainly due to the new anchor tenant, namely Hwa Tai Supermarket.
For KIPMall Senawang, the average occupancy rate was 85.2%. KIP REIT is confident to push its occupancy rate to over 90%, with ST Rosyam being the key attraction. ST Rosyam does not close, as the supermarket opens 24 hours a day, 7 days a week.

GOING FORWARD
KIP REIT will continue to aggressively look for community-centric retail assets as well as industrial assets that will add value the Group.
There are currently 2 other assets in the pipeline, namely KIPMall Desa Coalfield and KIPMall Kuantan. KIPMall Desa Coalfield was opened in 2020, and the majority tenant mix is about the same as KIPMall Kota Warisan.
KIPMall Kuantan, on the other hand has previously signed a master lease agreement of 5 consecutive terms, of 3 years each with Lotus. The other master lease was signed with KFC and other mini anchor tenants include Mr DIY and some F&Bs.

KIP REIT aims to increase its asset under management up to RM1.5 billion within the next 5 years.

KIP-REIT’s second-half results likely to be stronger Strong financial performance of the existing property portfolio amidst continuous efforts to improve leasing and operational initiatives is expected of KIP Real Estate Investment Trust (KIP-REIT) going forward.

KIP REIT’s net profit rises to RM10.4mil in 1Q24 KUALA LUMPUR: KIP Real Estate Investment Trust (REIT) will focus on retail for growth but is open to improving its industrial portfolio when the right chance comes along.

KIP REAL ESTATE INVESTMENT TRUST (MK 5280) - UNIT HOLDERS MEETING

KIP REIT’s RM80m acquisition of KIPMall Kota Warisan deemed fair and reasonable by independent adviser The all-cash deal is deemed a related party transaction as KIP REIT’s major unitholder Datuk Ong Kook Liong is also a director and major shareholder...

We are delighted to have received The Edge Malaysia Centurion Club Corporate Awards in the category of REIT with the highest return on equity over the past three years. We extend our heartfelt thanks to all who have believed in and supported us throughout this journey. This year promises to be another exciting chapter, and we eagerly anticipate reaching our next milestone.

The Edge Malaysia Centurion Club Corporate Award 2023

KIP REIT : Higher Return on Equity Over Three Years

KIP Real Estate Investment Trust (REIT) Reports Impressive 14.32% Growth in Net Property Income for 4QFY2023, Driven by Surging Retail and Industrial Revenue.

KIP REIT's 4Q net property income up 14%, declares 1.75 sen income distribution KIP Real Estate Investment Trust's (REIT) net property income for the fourth quarter ended June 30, 2023 (4QFY2023) grew 14.32% to RM16.23 million, from RM14.2 million a year earlier, on the back of higher revenue.

KIP Real Estate Investment Trust (KIP REIT) Expects Stable Performance Amid Positive Property Portfolio Outlook; Declares Income Distribution for 2023

KIP REIT holds positive outlook on back of strong property portfolio performance KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT) holds a favorable outlook, considering the positive performance of its existing property portfolio.

Valerie Ong Pui Shan has been appointed as chief executive officer of KIP REIT since April 5, 2023. Joined KIP Group in 2012, Ong has gained knowledge and experience to climb the corporate ladder. As the new CEO, she shared to City & Country on how she intends to steer the ship and grow KIP REIT to the billions. Currently, the REIT has a portfolio of seven community malls and three industrial assets - the company’s first foray into the industrial segment.

Find out more about her strategies to grow KIP REIT in the June 26 issue of City & Country.

The acquisition, which is expected to be completed by the first quarter next year, will expand the KIP REIT’s portfolio to 11 assets. Currently, it has seven KIP Malls in Bangi, Tampoi, Kota Tinggi, Masai, Senawang and Melaka, as well as AEON Mall Kinta City in Ipoh, and three industrial properties in Pulau Indah.

KIP REIT buys KIPMall Kota Warisan for RM80m, proposes private placement to raise up to RM10m The acquisition, which is expected to be completed by the first quarter next year, will expand the KIP REIT’s portfolio to 11 assets. Currently, it ...

KIP REIT seeks to explore acquisition opportunities KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT) is aggressively looking for acquisition opportunities in both the retail and industrial space in line with its investment policy.

KIP REIT Management Sdn Bhd has appointed Valerie Ong Pui San as chief executive officer (CEO), effective April 5.

KIP REIT appoints Valerie Ong as new CEO | New Straits Times KUALA LUMPUR: KIP REIT Management Sdn Bhd has appointed Valerie Ong Pui San as chief executive officer (CEO), effective April 5.

KIP REIT Management Sdn Bhd, the manager of KIP Real Estate Investment Trust (KIP REIT), has appointed Valerie Ong Pui Shan as its chief executive officer, effective April 5.

KIP REIT appoints Valerie Ong Pui Shan as new CEO The company said with the appointment, Ong has been mandated to spearhead KIP REIT’s business strategies, operational plans and corporate exercises ...

PULAU INDAH KLANG (INDUSTRIAL PROPERTIES)
LOT 3A, PULAU INDAH, KLANG
SELANGOR DARUL EHSAN

LAND AREA : 21,202 Sq m.

Net Lettable Area : 129,114 Sq ft.