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- Teh, 47, was appointed in April 2022, replacing Yong Su-Lin, who stepped down after six years.
KUALA LUMPUR (Sept 24): Sentral REIT (KL:SENTRAL) said Teh Wan Wei has stepped down as CEO of the investment trust's manager, Sentral REIT Management Sdn Bhd, with immediate effect.
In a bourse filing, Sentral REIT said Teh, who is currently serving his notice period, has resigned to pursue other career opportunities.
“The appointment of a successor will be the subject of a further announcement,” the filing stated.
Teh, 47, was appointed in April 2022, replacing Yong Su-Lin, who stepped down after six years.
Sentral REIT, listed on the Main Market of Bursa Malaysia in 2007 as Quill Capita Trust, primarily manages commercial properties in Selangor, Kuala Lumpur and Penang.
Its portfolio includes Menara CelcomDigi, Menara Shell, Platinum Sentral and part of Plaza Mont Kiara.
For the second quarter ended June 30, 2025, the REIT’s net property income slipped 2.5% to RM36.97 million from RM37.91 million a year earlier, mainly due to lower rental income from Menara Shell, coupled with accounting adjustments under the Malaysian Financial Reporting Standard 16.
Quarterly revenue fell 2.7% to RM47.70 million from RM49.03 million, weighed down by reduced rental contributions from Menara Shell, but partially offset by higher contributions from Sentral Buildings 3 and 4 as well as lower operating expenses.
As at end-June, the REIT’s average occupancy rate stood at a healthy 85%, with a weighted average lease term to expiry of 4.54 years.
At Wednesday’s market close, Sentral REIT’s units were unchanged at 78.5 sen, giving it a market capitalisation of RM938.5 million.
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.
