Sunway REIT Q2 earnings slip 6.4pc

KUALA LUMPUR: Sunway Real Estate Investment Trust’s (REIT) net profit in the second quarter ended December 31 decreased 6.4 per cent to RM66.45 million, from RM71 million in the same period a year ago. It said yesterday the lower earnings were due to softer economic growth, coupled with intense competition in the retail, hotel and office segments. Revenue in the second quarter decreased 1.4 per cent to RM139.5 million from RM141.47 million in the same period previously.