: MRCB-Quill REIT’s net profit for the second quarter ended June 30, 2020 improved by 16.0% to RM19.08 million from RM16.46 million a year ago largely due to higher income contribution from Platinum Sentral, Menara Shell & Tesco Penang after incorporated rental rebates that have already been provided for retail SME tenants predominantly in Plaza Mont Kiara.
For the six months period, its net profit increased 8.4% to RM38.87 million from RM35.86 million, while revenue was up 2.4% to RM82.84 million from RM80.91 million. MRCB Quill Management Sdn Bhd chairman Tan Sri Saw Choo Boon said the performance of the economy in the first half of the year had deteriorated, but it is seeing gradual recovery following the government’s introduction of economic stimulus package and easing of the country’s “movement control” measures.“MQREIT’s tenants have progressively returned to their offices since the commencement of the recovery movement control order on June 9, 2020.
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