Financial Info
5-Year Financial Highlights
Performance Of The Group
Notes:
- Total NLA covers all the assets under management as at 30 June.
- Overall average occupancy rate is computed by occupied area over NLA.
- MER is the ratio of expenses incurred in operating KIP REIT to the average net asset value of KIP REIT after income distribution. The computation of MER has been verified by the auditors.
- Annual total return represents the change in unit price during the year plus distribution yield for the year.
- Average total return is the sum of the return rates of KIP REIT over a given number of years divided by that number of years.
- Distribution yield is computed based on distribution per unit divided by its closing unit price.
- Net asset value per unit is determined by deducting the value of all KIP REIT’s liabilities and income distribution paid to unitholders from the total asset value, divided by weighted average number of units issued.
- Unit price is determined based on the closing unit price as at 30 June.
Performance At A Glance
Latest Annual Financials
Quarterly Results FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
FY2017
Segmental Performance
Net Property Income (“NPI”)
KIP REIT recorded higher NPI at RM77.82 million in FYE 2024 as compared to RM62.15 million in the previous financial year. Such growth aligns with the overall increase in gross revenue in FYE 2024. Compared to investment properties in the retail segment, industrial properties are able to yield a higher NPI as most property operating expenses such as utilities, maintenance, upkeep and repairs expenses are borne by the tenants. The breakdown of property operating expenses for FYE 2023 and FYE 2024 is set out as follows: -
Profit for the Year
Our profit decreased by RM13.48 million or 22.2% from RM60.79 million in FYE 2023 to RM47.31 million in FYE 2024, mainly due to a significant reduction in unrealised profit by RM20.25 million. Such decrease in unrealised profit was primarily attributed to a lower fair value gain on investment properties in FYE 2024 as the fair value in FYE 2023 was notably higher due to a remarkable improvement in market conditions following the COVID-19 pandemic, which driven by the gradual return to normalcy and recovery from the Movement Control Order.
Nevertheless, it is noteworthy that our realised profit increased by RM6.77 million or 17.9% from RM37.70 million in FYE 2023 to RM44.47 million in FYE 2024, driven by the higher NPI during the financial year as discussed earlier. The higher realised profit also contributed higher distributable income of RM45.58 million in FYE 2024 as compared to RM38.76 million in FYE 2023.
Income Distribution
As a result of our positive performance, total distribution to unitholders for FYE 2024 was recorded at RM41.04 million representing an increase of RM4.24 million or 11.5%, as compared to RM36.80 million in FYE 2023. This translates to a distribution yield of 7.4% (FYE 2023: 6.9%) based on KIP REIT’s closing unit price of RM0.895 as at 30 June 2024 (30 June 2023: RM0.900).
During the FYE 2024, the total amount of income distributed represents 90.0% of the current year's distributable income of RM45.58 million. The details of the income distributions proposed and declared by KIP REIT for FYE 2024 are as follows: -
Distribution History
Distribution Policy
KIP REIT is committed to distribute at least 90% of its taxable income to its unitholders for each financial year.
| Period | Distribution per Unit (sens) | Entitlement Date | Payment Date |
|---|---|---|---|
| 1 Apr 2024 to 30 Jun 2024 | 1.965 | 09 Aug 2024 | 30 Aug 2024 |
| 1 Jan 2024 to 31 Mar 2024 | 1.60 | 09 May 2024 | 28 May 2024 |
| 1 Oct 2023 to 31 Dec 2023 | 1.55 | 14 Feb 2024 | 29 Feb 2024 |
| 1 Jul 2023 to 30 Sep 2023 | 1.55 | 03 Nov 2023 | 23 Nov 2023 |
| 1 Apr 2023 to 30 Jun 2023 | 1.75 | 08 Aug 2023 | 29 Aug 2023 |
| 1 Jan 2023 to 31 Mar 2023 | 1.55 | 09 May 2023 | 30 May 2023 |
| 1 Oct 2022 to 31 Dec 2022 | 1.450 | 07 Feb 2023 | 21 Feb 2023 |
| 1 Jul 2022 to 30 Sep 2022 | 1.450 | 10 Nov 2022 | 23 Nov 2022 |
| 1 Apr 2022 to 30 June 2022 | 2.100 | 12 Aug 2022 | 25 Aug 2022 |
| 1 Jan 2022 to 30 Mar 2022 | 1.600 | 10 May 2022 | 23 May 2022 |
| 1 Oct 2021 to 31 Dec 2021 | 1.550 | 07 Feb 2022 | 18 Feb 2022 |
| 1 Jul 2021 to 30 Sep 2021 | 1.550 | 05 Nov 2021 | 23 Nov 2021 |
| 1 Apr 2021 to 30 Jun 2021 | 2.100 | 16 Aug 2021 | 27 Aug 2021 |
| 1 Jan 2021 to 31 Mar 2021 | 1.600 | 06 May 2021 | 25 May 2021 |
| 1 Oct 2020 to 31 Dec 2020 | 1.590 | 05 Feb 2021 | 19 Feb 2021 |
| 1 Jul 2020 to 30 Sep 2020 | 1.550 | 04 Nov 2020 | 23 Nov 2020 |
| 1 Apr 2020 to 30 Jun 2020 | 1.530 | 12 Aug 2020 | 27 Aug 2020 |
| 1 Jan 2020 to 31 Mar 2020 | 1.520 | 23 Apr 2020 | 29 May 2020 |
| 1 Oct 2019 to 31 Dec 2019 | 1.760 | 30 Jan 2020 | 14 Feb 2020 |
| 1 Jul 2019 to 30 Sep 2019 | 1.370 | 31 Oct 2019 | 14 Nov 2019 |
| 1 Apr 2019 to 30 Jun 2019 | 1.520 | 09 Aug 2019 | 29 Aug 2019 |
| 1 Jan 2019 to 31 Mar 2019 | 1.510 | 03 May 2019 | 17 May 2019 |
| 1 Oct 2018 to 31 Dec 2018 | 1.550 | 29 Jan 2019 | 14 Feb 2019 |
| 1 Jul 2018 to 30 Sep 2018 | 1.450 | 29 Oct 2018 | 13 Nov 2018 |
| 1 Apr 2018 to 30 Jun 2018 | 1.800 | 08 Aug 2018 | 23 Aug 2018 |
| 1 Jan 2018 to 31 Mar 2018 | 1.780 | 07 May 2018 | 30 May 2018 |
| 1 Oct 2017 to 31 Dec 2017 | 1.750 | 12 Feb 2018 | 28 Feb 2018 |
| 1 Jul 2017 to 30 Sep 2017 | 1.500 | 09 Nov 2017 | 28 Nov 2017 |
| 1 Apr 2017 to 30 Jun 2017 | 1.918 | 09 Aug 2017 | 29 Aug 2017 |
| 06 Feb 2017 to 31 Mar 2017 | 1.000 | 16 May 2017 | 30 May 2017 |
