KUALA LUMPUR: Al-Hadharah Boustead REIT’s net profit for the first quarter ended March 31, 2009 (1Q09) rose 17% to RM20.2 million from RM17.3 million a year earlier mainly due to a gain of RM6.5 million from the compulsory acquisition of investment properties by the government.</div>

<div class=newsTextDataWrapInner>Fixed rental income rose 28% to RM13.3 million due to the additions from Bebar and Malakoff estates, while unrealised performance-based income fell 70% to RM2.5 million. Basic earnings per share fell to 3.63 sen from 3.67 sen. No dividend was declared.</div>

<div class=newsTextDataWrapInner>“Moving forward, though global demand for edible oils has been affected by the credit squeeze and economic crisis, we are confident demand for palm oil will see an upward trend due to its strong popularity,” said Boustead REIT Managers Sdn Bhd chairman Tan Sri Lodin Wok Kamaruddin.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner> This article appeared in The Edge Financial Daily, May 22, 2009.

KUALA LUMPUR: Al-Hadharah Boustead REIT’s net profit for the first quarter ended March 31, 2009 (1Q09) rose 17% to RM20.2 million from RM17.3 million a year earlier mainly due to a gain of RM6.5 million from the compulsory acquisition of investment properties by the government.

Fixed rental income rose 28% to RM13.3 million due to the additions from Bebar and Malakoff estates, while unrealised performance-based income fell 70% to RM2.5 million. Basic earnings per share fell to 3.63 sen from 3.67 sen. No dividend was declared.

“Moving forward, though global demand for edible oils has been affected by the credit squeeze and economic crisis, we are confident demand for palm oil will see an upward trend due to its strong popularity,” said Boustead REIT Managers Sdn Bhd chairman Tan Sri Lodin Wok Kamaruddin.

This article appeared in The Edge Financial Daily, May 22, 2009.

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