This article first appeared in The Edge Financial Daily, on February 17, 2016.

MRCB-QUILL REIT (+ve)

SHARES of MRCB-QUILL REIT (Fundamental: 0.9/3, Valuation: 2.7/3) closed unchanged at RM1.08 yesterday, on volume of 1.43 million compared with its 200-day average volume of 222,487.5.

MRCB-QUILL, formerly known as Quill Capita Trust, is a real estate investment trust that focuses on commercial-retail properties.

In its 4QFY15 results, the revenue rose 64% to RM115.2 million, due to the additional revenue kick in from the acquisition of Platinum Sentral on March 30, 2015, higher revenue from Plaza Mont Kiara and rental rate increase for QB2, QB3 and Tesco. 

The realised income of RM54 million was also higher by 58.1%, helped by higher net property income, higher interest income and gain on divestment of QB10.

As at Dec 31, 2015, 94% of the leases due for renewal in 2015 has been renewed, while 6% has not.

Distribution per unit (DPU) was increased slightly to 8.47 sen in FY15, which translates to a yield of 7.8%.