SUNREIT oh SUNREIT

I do buy REIT for passive income.

Currently I have:

1) SUNREIT normally pay dividend on Sept, Dec, March and May
2) STAR REIT normally pay dividend on February and August
3) ARREIT normally pay dividend on October, January, March and May

May, June, July, November - this 4 months I have no passive income.



Sunway REIT 4Q net profit falls 18%, div 2.02 sen
Business & Markets 2013
Written by Shalini Kumar of theedgemalaysia.com   
Tuesday, 06 August 2013 18:57

KUALA LUMPUR (Aug 6): Sunway Real Estate Investment Trust recorded a net profit of RM229 million for its fourth quarter ended June 30, a drop of about 18% from the net profit of RM278.3 million posted in the previous corresponding quarter.

This was on the back of RM103.9 million in revenue compared with RM102.6 million in at the same time last year.

Sunway REIT declared a final income distribution of 2.02 sen per share, payable on Sept 5.

According to a statement filed with Bursa Malaysia today, the group said net realised income jumped 15.4% year-on-year to RM55.5 million, on the back of healthy growth from Sunway Pyramid Shopping Mall and Sunway Carnival Shopping Mall, new contributions from Sunway Medical Centre as well as substantially lower interest costs.

Sunway Carnival Shopping Mall’s gross revenue soared 21.9% year-on-year, while Sunway Pyramid Shopping Mall registered revenue growth of 3.9% year-on-year. 

The hotel segment experienced a decline of 11.4% year-on-year in gross revenue.

For its full year cumulative results, the trust recorded a net profit of RM392.3 million, compared with the RM420.5 million posted in 4QFY12 - mainly attributable to new income streams from Sunway Medical Centre and interest savings arising from capital management initiatives.

Revenue was higher at RM415.9 million , compared with RM406.4 at the same time last year.

Sunway REIT’s portfolio value increased to RM5.18 billion after recognizing a fair value gain on investment PROPERTIES [] of RM173.5 million.

Looking forward, Sunway REIT Management Sdn. Bhd.CEO Datuk Jeffrey Ng said "planned strategies will be implemented in order to ensure sustainability in income which include substantial capex over the next two to three years in excess of RM500 million for asset enhancement initiatives."

A substantial portion of the capex is to be allocated to Sunway Putra Place. Meanwhile, the ongoing enhancements to Sunway Pyramid's Oasis Boulevard is expected to be complete by end-2013.