Pavilion REIT’s quarterly NPI holds steady at RM145.58 million
Distributable income declined 1.4% to RM96.47 million, or 2.45 sen per unit, while nine-month net property income rose 6.87%.
Pavilion Real Estate Investment Trust reported largely unchanged net property income (NPI) for its quarter to Sept 30, 2026, at RM145.58 million against RM145.49 million a year earlier. Revenue edged down from RM227.88 million to RM227.29 million.
In its bourse filing, the trust attributed the revenue decline to reduced advertising income at Elite Pavilion Mall. Distributable income was RM96.47 million, equivalent to 2.45 sen per unit, compared with RM97.86 million and 2.49 sen previously.
Quarterly property operating expenses decreased 0.8% to RM81.71 million from RM82.39 million. Lower advertising-related setup costs helped reduce expenses, although utilities costs increased following a higher automatic fuel adjustment rate imposed by Tenaga Nasional Bhd, the trust said.
For the nine-month period to Sept 30, 2026, revenue grew 3.71% to RM694.21 million from RM669.4 million. NPI increased 6.87%, reaching RM446.79 million against RM418.07 million previously.
The trust attributed the nine-month improvement mainly to rental contributions from Banyan Tree Kuala Lumpur and Pavilion Hotel Kuala Lumpur, acquired in June 2025, alongside sustained occupancy at Pavilion Bukit Jalil.
Nine-month property operating expenses declined 1.6% to RM247.42 million from RM251.33 million. Electricity savings following Tenaga Nasional’s approval of a new tariff structure were partly offset by higher maintenance spending on security systems, chillers, escalators, roofing and lighting.
Separately, the trust appointed Lim Shoo Wenn, 32, as an alternate director. She is the daughter of chairman Tan Sri Lim Siew Choon and a director of the CEO office at Pavilion REIT Management Sdn Bhd.
Lee Heng Keng, 62, was also appointed an independent director. He retired from CIMB Group in June 2026 after nearly 34 years with the group.
