24 February 2022

YTL Hospitality REIT's Half-Year Revenue Grows 14% to RM180 Million (US$43 Million) & Distributable Income Increases 4% to RM36 Million (US$9 Million)

Kuala Lumpur, Thursday 24 February 2022 — YTL Hospitality REIT recorded higher revenue of RM179.9 million (US$42.9 mn) for the 6 months ended 31 December 2021, a 14.0% increase compared to RM157.8 million (US$37.7 mn) for the previous corresponding 6 months ended 31 December 2020. Net property income (NPI) grew 11.1% to RM113.5 million (US$27.1 mn) for the period under review compared to RM102.1 million (US$24.4 mn) for the same period last year, whilst income available for distribution increased 4.2% to RM35.7 million (US$8.5 mn) this year over RM34.3 million (US$8.2 mn) last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, "Revenue and NPI in the Trust's hotel segment increased due to improved performance by our Australian portfolio, resulting from participation in the government isolation group business programme as well as internal cost saving efforts. Meanwhile, in the property rental segment, revenue and NPI continued to remain stable at similar levels to the same period last year."

The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 1.8880 sen per unit for the 6 months from 1 July 2021 to 31 December 2021, the book closure and payment dates for which are 10 March 2022 and 31 March 2022, respectively. The total income distribution amounts to RM32.2 million, representing approximately 90% of the total distributable income for the financial period ended 31 December 2021.

Comparison with Preceding Year Corresponding Period

  6 months ended

RM '000
6 months ended
RM '000
Revenue 179,938 157,840 +14%
NPI 113,510 102,131 +11%
Income available for distribution 35,736 34,287 +4%