Malay REIT’s net property income (NPI) for the third quarter ended 30 September 2022 (3Q2022) increased by 77.2% to RM18.31 million, compared to RM10.33 million in the corresponding period last year.
The higher NPI was mainly due to higher revenue and higher NPI margin of RM8.0 million and reversal of impairment loss on trade receivables of RM2.56 million in 2022.
It told the stock exchange today that its net income was RM13.5 million, a significant increase of 861.8% from RM1.4 million in the same period last year.