arreit 31/3/2014 quarter report 分析

SUMMARY OF KEY FINANCIAL INFORMATION

31/03/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/03/2014	31/03/2013	31/03/2014	31/03/2013
		$$'000	$$'000	$$'000	$$'000
1	Revenue	15,973	16,747	15,973	16,747
2	Profit/(loss) before tax	7,948	11,368	7,948	11,368
3	Profit/(loss) for the period	7,948	11,368	7,948	11,368
4	Profit/(loss) attributable to ordinary equity holders of the parent	0	0	0	0
5	Basic earnings/(loss) per share (Subunit)	1.39	1.98	1.39	1.98
6	Proposed/Declared dividend per share (Subunit)	1.70	1.88	1.70	1.88

Arreit (5127) 最新31/3/2014季度報告，顯然這是一份不及格的報告，revenue 下滑 4.6%， 淨利下滑 30%，連派息也下滑9.5%

公司在季度報告中說明revenue下滑主要是因為Wisma Amanah Raya Jalan Semantan自27 January 2014起已懸空，公司還沒找到tenant。此外，公司本季度的property expenses比去年同季度增加了196%，這主要是因為increase in assessment rate by RM166,000, accrual for repair and maintenance work of RM216,000 and accrual for property refurbishment work of RM643,000

還有一點值得大家去注意，在這個季度的P&L裡，多了這個Impairment loss on trade receivable(RM1,942,868)，從current asset 中得知，公司現有的 Trade and other receivables為RM12,860,406， 請問Impairment loss on trade receivable是bad debt嗎？這Impairment loss on trade receivable也是導致公司淨利下滑的元兇之一，請有accounting background的朋友指點。

好消息是公司最近收購了wisma comcorp, 有望提升公司revenue, 但預計wisma comcorp的盈利只會反映在2015年。

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