's recovery post-Covid lockdown continues with future earnings underpinned by strong retail sales and a gradual recovery in the hotel segment.
In the quarter under review, it said net profit was RM91.91mil, more than double the net profit of RM41.06mil in the same quarter last year as it came off a low base.Revenue was up 55.52% to RM166.24mil in the comparative quarter. "The outlook is further supported by healthy economic growth, sustained domestic consumption, gradual pick up in international travel and new income contribution from the new wing of Sunway Carnival Mall following its launch in June 2022," said the REIT manager.
The REIT manager also expects the office segment to remain resilient as businesses are operating at full capacity as the economy transitions into the endemic phase.