Quill Capita posts higher Q2 net profit

Real estate investment trust Quill Capita Trust (QCT)'s net property
income increased by 5.8 per cent to RM14.06 million for the second
quarter ended June 30, 2011 from RM13.29 million in the same quarter
last year.



Realised net income was up by 10.5 per cent to RM9.17 million from RM8.30

million previously, QCT manager Quill Capita Management Sdn Bhd (QCM) said in a press release today.



It also announced an interim income distribution of RM15.6 million or four

sen per unit. This will be paid out on Aug 29.






The interim income distribution was 3.9 per cent higher than the 3.85 sen

per unit declared in the second quarter last year.



QCM Chairman Datuk Mohammed Hussein said the satisfactory
performance was a result of higher rental income contribution from its
quality portfolio and

proactive asset management strategies.



Year-to-date, he said, QCM enjoyed positive reversion for all its rental

renewals. In addition, it also managed to control and lower the property

expenses without compromising on the quality of services to tenants.



QCM Chief Executive Officer Chan Say Yeong said QCT's current gearing was

36 per cent and the company would continue to be prudent in its capital

management strategy.



QCM had also secured refinancing of QCT's RM118 million Commercial Papers

maturing in November this year, five months ahead of its maturity date, he

added. -- Bernama