For the cumulative nine months (9MFY16), MQREIT's net property income jumped 20.8% to RM76.68 million compared with RM63.48 million in 9MFY15. Net income also rose 21.8% to RM45.85 million from RM37.65 million, while revenue grew 18.3% to RM97.72 million from RM82.6 million. As at Sept 30, 2016, MQREIT’s gearing ratio was 42.8% and its average cost of debt was at 4.4% per year. MQM chief executive officer Yong Su-Lin said another growth opportunity that will augment MQReit’s income stream is the proposed acquisition of Menara Shell. In terms of renewal of existing leases, 64% of MQREIT's leases due up to 3QFY16 had been renewed, while 8% of leases were not renewed.

Source: The Edge Markets October 26, 2016 08:03 UTC