
Tower REIT posts $698,000 net income in Q2
Gross revenue increased by 10.4% to $3.03m (RM10m).
Tower Real Estate Investment Fund’s (Tower REIT) recorded a total comprehensive income worth $698,022 (RM2.3m) for the second quarter (Q2) ended 31 December 2024, according to a bourse filing.
Net trust income for Q2 of $698,022 (RM2.3m) was higher compared to $606,976 (RM2m) in the preceding quarter, due to improved occupancy and lower property operating expenses in the current quarter.
Gross revenue increased by 10.4% to $3.03m (RM10m) compared to the same period of the previous year due to better occupancy and higher rental rates.
Tower REIT’s unit price was last traded at $0.09 (RM0.310) per unit on 31 December 2024.
($1 = RM3.30)