Sentral REIT nine-month realised net income edges up 0.5% to RM59.72m
Sentral REIT’s realised net income rose 0.5% to RM59.72 million for the nine months ended Sept 30, 2026, driven by higher occupancy and rental rates. Portfolio occupancy hit 90%, up four percentage points from a year earlier, marking six consecutive quarters of improvement.
PETALING JAYA (Nov 5): Sentral REIT’s realised net income rose 0.5% to RM59.72 million for the nine months ended Sept 30, 2026, from RM59.43 million a year earlier, supported by contributions from Arcoris Mont’ Kiara. Realised gross revenue increased 3% to RM146.13 million from RM141.89 million. However, higher property operating expenses weighed on net property income, which fell 2.1% to RM107.48 million from RM109.78 million.
In a Bursa Malaysia filing on Thursday (Nov 5), its manager, Sentral REIT Management Sdn Bhd, said higher portfolio occupancy, improved rental rates and higher finance income helped mitigate the increase in property operating expenses. The unaudited results showed realised earnings per unit rose to 5 sen from 4.97 sen. Distributable income matched realised net income at RM59.72 million.
For the third quarter, realised net income grew 0.7% to RM19.82 million from RM19.69 million, while realised gross revenue rose 2.3% to RM48.73 million from RM47.63 million. Quarterly net property income declined 1.8% to RM35.7 million from RM36.34 million. Realised earnings per unit stood at 1.66 sen, compared with 1.65 sen a year earlier.
Portfolio occupancy reached 90% at end-September, up four percentage points from 86% a year earlier, marking six consecutive quarters of improvement, the manager said. It said 84% of approximately 124,000 sq ft of net lettable area due for renewal during the first nine months had been renewed. Negotiations for leases expiring in the fourth quarter were ongoing and on track.
Sentral REIT Management CEO Tay Hui Ling said the trust was well positioned to continue diversifying its portfolio through selective, accretive acquisitions to support sustainable growth in distributions to unitholders. Chairman Tan Sri Saw Choo Boon said Arcoris Mont’ Kiara was contributing meaningfully to revenue, while recycling capital from the disposal of Wisma Sentral Inai had strengthened the trust’s balance sheet. The manager identified diversification beyond offices as a strategic priority. Its accompanying corporate presentation showed that Wisma Sentral Inai was disposed of on Jan 13, 2026.
As at Sept 30, Sentral REIT owned 10 properties with a combined appraised value of RM2.4 billion and total net lettable area of about 2.38 million sq ft, excluding car park areas. Offices accounted for 87% of the portfolio by valuation, followed by retail at 10% and car parks at 3%. Gearing stood at 45.2%, compared with 45.6% at end-2025. Total debt was RM1.18 billion, with an average borrowing cost of 4.22% a year and an average debt maturity of 1.81 years. Net asset value per unit increased to RM1.1169 from RM1.1144 at end-2025.
