Tuesday 19 Mar 2024
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KUALA LUMPUR: Pavilion Real Estate Investment Trust’s (Pavilion REIT) annual distribution per unit for the full year ended Dec 31, 2014 (FY14), improved by 0.6 sen or 8.2% to 7.96 sen. This translates to a distribution yield of 5.5%, based on the REIT’s closing price of RM1.46 as at the end of last year.

In a statement yesterday, Pavilion REIT Management Sdn Bhd said Pavilion REIT’s (fundamental: 2.8) distributable income of 4.12 sen for the second half of 2014 (2HFY14) is expected to be payable on Feb 27. The REIT closed 1 sen lower at RM1.46 yesterday, with a market capitalisation of RM4.43 billion. According to the REIT, which owns the Pavilion Kuala Lumpur shopping mall in downtown Bukit Bintang, its gross revenue increased by 7.1% to RM402.1 million in FY14 compared with FY13. .

“Although 2015 is expected to remain challenging for the retail sector due to weak consumer sentiment from impending GST implementation, weakening of the ringgit and inflationary pressures, the manager will continue to engage with its stakeholders to continue to attract shoppers, manage its operational cost effectively, and seek investment prospects to ensure the best achievable return for unitholders,” said Pavilion REIT Management.

 

The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.

This article first appeared in The Edge Financial Daily, on January 16, 2015.

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