Stock Digest - UOA Real Estate Investment Trust - Soft Start For FY23

YoY, a decline in core net profit was mainly attributed by (i) occupancy rate of Wisma UOA II declined from 67.0% to 64.0%, leading to a 11.7% decline in gross rental income to RM3.9m, which has offset a higher gross rental income generated from other buildings of UOAR’s portfolio, and (ii) increase in total expenditure by 6.7% YoY due to an increase in electricity and borrowing cost.