KLSE:KIPREIT

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Malaysian Shares End in Green Bucking Regional Losses; Uzma's Shares Rally 6%

Malaysian shares rebounded to end in green, bucking a downbeat regional performance. The investor sentiment improved with selective buying in index-linked counters.The FTSE Bursa Malaysia KLCI gained 12.33 points to end 0.7% higher at 1,729.60. The day range was between 1,714.12 and 1,729.60.In corporate news, shares of Uzma (KLSE:UZMA) rose about 6% on close after its unit Uzma Engineering secured a letter of award from Petronas Carigali to provide leasing, operations and maintenance of a Portable Water Injection Module for the Bayan Redevelopment Phase 3 project.KIP Real Estate Investment Trust's (KLSE:KIPREIT) distribution per unit stood at 0.0173 ringgit in the fiscal third quarter ended March 31. Profit jumped 31.4% to 18.2 million ringgit from 13.8 million ringgit a year earlier, driven by stronger contributions from existing assets and acquisitions. Shares ended flat today.Whereas, shares of Samaiden Group (KLSE:SAMAIDEN) fell 3% on Tuesday's close after it completed its acquisition of two parcels of leasehold land in Perak, Malaysia, following payment of the balance purchase price of 41 million ringgit.

FTSE Bursa Malaysia KLCIKLSE:KIPREITKLSE:SAMAIDENKLSE:UZMA

Asia48d ago

KIP REIT's Fiscal Q3 Profit Rises

KIP Real Estate Investment Trust's (KLSE:KIPREIT) distribution per unit stood at 0.0173 ringgit in the fiscal third quarter ended March 31, according to a Monday Malaysian bourse filing.Shares of the REIT gained over 1% in Tuesday's midday trade.Profit jumped 31.4% to 18.2 million ringgit from 13.8 million ringgit a year earlier, driven by stronger contributions from existing assets and acquisitions.Gross revenue rose 12.9% annually to 44.6 million ringgit from 39.5 million ringgit, while net property income increased 17.6% to 32.3 million ringgit from 27.5 million ringgit.For the nine months, gross revenue climbed 33.9% to 128.9 million ringgit from 96.2 million ringgit, with net property income up 37.3% to 94.5 million ringgit from the prior year. Meanwhile, profit rose 47.5% to 52.9 million ringgit year-on-year, the filing said.KIP REIT also proposed the acquisition of Setapak Central mall for 435 million ringgit.

KLSE:KIPREIT