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SunREIT's net profit at RM44mil

KUALA LUMPUR: Sunway Real Estate Investment Trust (SunREIT) posted a net profit of RM43.7mil for the third quarter ended March 31.

SunREIT said its pre-tax income was RM43.7mil comprising realised net income of RM43.2mil and unrealised income of RM500,000 arising mainly from fair value adjustment on financial derivatives.

Gross revenue was RM82.3mil while net property income stood at RM61mil. Distributable income was RM45.5mil, comprising realised income of RM43.2mil and surplus cash arising from 50% of manager fee payable in units of RM2.3mil, it said.

SunREIT has declared a third interim income distribution of 1.70 sen per unit for the third quarter ended 31 March. For the first nine months, SunREIT’s income before taxation was RM399.6mil comprising realised net income of RM126.2mil and unrealised income of RM273.4mil .

(Source : TheStar ; 4 May 2011)

 

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