LENDLEASE REIT REPORTS HIGHER 2H FY2026 REVENUE, DPU

KUALA LUMPUR, Aug 4 (Bernama) -- Lendlease Global Commercial Trust Management Pte Ltd, the manager of Lendlease Global Commercial REIT (Lendlease REIT), has announced its second half (2H) and full-year financial results for FY2026, with gross revenue rising 6.8 per cent year-on-year (YoY) to SG$110.0 million in 2H FY2026. (SG$1 = RM3.19)

In a statement, the company said net property income (NPI) for 2H FY2026 increased 6.6 per cent YoY to SG$78.7 million, driven by the acquisition of PLQ Mall and the performance of its Singapore retail assets, partially offset by the divestment of the Jem office.

Distribution per unit (DPU) for 2H FY2026 stood at 1.85 Singapore cents, bringing the full-year DPU to 3.70 Singapore cents, up 3.0 per cent YoY, supported by recurring earnings from a strong portfolio of operational assets in Singapore.

“FY2026 marked a year of meaningful progress for Lendlease REIT. We took decisive steps to strengthen our financial position through the successful divestment of Jem office, reducing aggregate leverage to 38.9 per cent and improving our interest coverage ratio to 2.1 times.

“Looking ahead, our enlarged Singapore retail portfolio provides a stronger platform for growth. We remain committed to disciplined execution, active asset management and capital stewardship as we pursue further DPU growth and long-term value creation in FY2027,” said the manager’s Chief Executive Officer, Guy Cawthra.

Property operating expenses increased by SG$1.4 million compared with FY2025, mainly due to the acquisition of PLQ Mall, partially offset by the divestment of the Jem office.

As at June 30, 2026, Lendlease REIT’s gross borrowings stood at SG$1.7053 billion, with a gearing ratio of 38.9 per cent. The weighted average cost of debt was reduced to 2.75 per cent per annum, while approximately 68 per cent of borrowings were hedged at fixed rates.

The manager also reduced its outstanding perpetual securities through refinancing exercises undertaken in April 2025 and June 2026, lowering the total quantum from SG$400 million to SG$240 million.

In the same period, Lendlease REIT’s portfolio committed occupancy stood at 94.6 per cent. Its retail portfolio maintained a strong occupancy rate of 98.5 per cent, while occupancy at the Milan office portfolio stood at 89.1 per cent.

The company will continue pursuing active asset initiatives to drive income growth by unlocking value through the reconfiguration of retail space at PLQ Mall and refreshing Discovery Walk to integrate with the multifunctional event space.

-- BERNAMA

2POINTZERO REPORTS STRONG FIRST HALF REVENUE, NET PROFIT

Samia Bouazza, CEO of 2PointZero (Photo: AETOSWire)

KUALA LUMPUR, Aug 4 (Bernama) -- Abu Dhabi-based investment holding firm, 2PointZero Group has reported revenue of 21.9 billion Emirati dirham and a group net profit of 7.7 billion Emirati dirham for the first half of 2026. (100 Emirati dirham = RM111.58)

The group said continued operational integration, wider adoption of artificial intelligence (AI) tools and ongoing cost optimisation strengthened operational performance, lifting revenue while maintaining a blended gross profit margin of 29 per cent.

Net profit from the group's businesses increased 2,301 per cent year-on-year, driven by the consolidation of Tendam and the mega-merger that formed 2PointZero Group, new investments in African financial services, expansion into European packaging markets and steady operational progress across all business segments.

The strong performance was reflected in the group's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), which reached 5.0 billion Emirati dirham after excluding fair value changes and one-off items.

“As we enter the second half of the year, we continue to strengthen the platform for long-term growth. Nearly 10 per cent of our workforce consists of AI co-workers, embedded across the group to improve productivity, accelerate decision-making, and strengthen operational performance.

“Together with our disciplined capital allocation and strong financial position, this gives us confidence in our ability to create long-term shareholder value,” said 2PointZero Chief Executive Officer, Samia Bouazza in a statement.

The group's financial position remained strong, supported by cash holdings of 13.7 billion Emirati dirham and a debt-to-equity ratio of 0.32, providing flexibility to manage risks, allocate resources efficiently and fund high-return investment opportunities globally.

Among its key developments, 2PointZero completed the sale of its entire 7.29 per cent stake in TAQA to Abu Dhabi Power and expanded its energy infrastructure portfolio through subsidiary ePointZero's acquisition of a 100 per cent stake in Traverse Midstream Partners.

The group also participated in the Series G funding round for WHOOP, a global health technology company, and acquired a 60.8 per cent controlling interest in Italy's ISEM Packaging Group for 704 million Emirati dirham.

Recognising its financial performance, 2PointZero ranked 36th on TIME's inaugural World's Growth Leaders 2026 list, reflecting its business growth, market performance and long-term financial stability.

-- BERNAMA