Al-Aqar REIT’s 2Q net income down 2.5%, declares 1.73 sen DPU

• Quarterly net rental income rose 3.4% to RM25.4 million compared with RM24.58 million in 2QFY2024, attributed to the absence of a net loss rental income from the trust's property in Australia, dragged by higher professional fees, according to a bourse filing on Tuesday.

KUALA LUMPUR (Aug 26): Al-Aqar Healthcare Real Estate Investment Trust (Al-Aqar REIT) (KL:ALAQAR), which owns and manages hospitals, wellness and health centres and health colleges, has reported a 2.5% year-on-year fall in its second-quarter net income.

Net income for the three months ended June 30, 2025 (2QFY2025) edged down to RM15.95 million from RM16.35 million, said the REIT in which KPJ Healthcare Bhd (KL:KPJ) owns a 34.51% stake.

Quarterly net rental income rose 3.4% to RM25.4 million compared with RM24.58 million in 2QFY2024, attributed to the absence of a net loss rental income from the trust's property in Australia, dragged by higher professional fees, according to a bourse filing on Tuesday.

The REIT declared a second interim income distribution of 1.73 sen per unit, to be paid on Oct 3.

Al-Aqar REIT owns 17 hospitals, three wellness and health centres, two health colleges and one aged care and retirement village, according to its 2024 annual report. Its asset in Australia comprises the Jeta Garden Aged Care and Retirement Village.

For the six months ended June 30, 2025 (6MFY2025), Al-Aqar REIT’s net income dropped 3.1% to RM31.75 million from RM32.76 million in 6MFY2024, as net rental income slipped a marginal 0.4% to RM50.44 million compared with RM50.62 million.

Looking ahead, Al-Aqar REIT said it remains focused on strengthening and expanding its portfolio. “With lower financing rates, we continue to actively explore growth opportunities, both locally and regionally, aligning with our investment goals.”

Units in Al-Aqar REIT ended unchanged at RM1.25 on Tuesday, valuing the trust at RM1.05 billion.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.