MQREIT sees 4.48% traded off-market

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KUALA LUMPUR (Aug 20): MRCB-Quill REIT (MQREIT) saw 48 million of its units cross off-market today. This represents 4.48% of the REIT's total 1.07 billion outstanding units.

According to Bloomberg data, the shares crossed in a single block for RM52.8 million or RM1.1 apiece. However, it is not immediately known as to whom the parties involved in the transaction are.

The transacted price is at a discount of 6.78% from the REIT's closing price of RM1.18 in the open market today.

On Aug 8, MQREIT, which is 27.89%-owned by Malaysian Resources Corp Bhd, announced its net property income rose a marginal 0.6% to RM33.65 million in the second quarter ended June 30, 2018 (2QFY18), from RM33.44 million a year ago, as revenue grew 0.19% to RM43.69 million, from RM43.61 million.

MQREIT declared an income distribution of 4.23 sen per unit, payable on Sept 19.

At its latest closing price, MQREIT has a market capitalisation of RM1.27 billion.