“Sentral REIT CEO Teh Wan Wei resigns to pursue new opportunities; successor to be named soon as Q2 income and revenue show slight decline.”
Kuala Lumpur, 25th September 2025, 01.00pm – Sentral REIT announced that its chief executive officer, Teh Wan Wei, has resigned from his position at Sentral REIT Management Sdn Bhd with immediate effect.
In a filing to Bursa Malaysia, the REIT said Teh, who is currently serving his notice period, stepped down to pursue other career opportunities. A successor will be named in due course.
Teh, 47, was appointed in April 2022, succeeding former CEO Yong Su-Lin, who had led the trust for six years.
Portfolio and Performance
Listed on Bursa Malaysia’s Main Market in 2007 as Quill Capita Trust, Sentral REIT manages a portfolio of prime commercial properties in Selangor, Kuala Lumpur, and Penang. Key assets include Menara CelcomDigi, Menara Shell, Platinum Sentral, and part of Plaza Mont Kiara.
For the second quarter ended June 30, 2025, Sentral REIT’s net property income declined 2.5% year-on-year to RM36.97 million, compared with RM37.91 million a year earlier. The decline was mainly attributed to lower rental contributions from Menara Shell, coupled with adjustments under the Malaysian Financial Reporting Standard (MFRS 16).
Quarterly revenue slipped 2.7% to RM47.70 million, from RM49.03 million in the same period last year. The softer performance was offset in part by stronger contributions from Sentral Buildings 3 and 4 and reduced operating expenses.
Market Standing
As of end-June, the REIT reported an average occupancy rate of 85% with a weighted average lease expiry (WALE) of 4.54 years, reflecting relatively stable tenant retention.
Sentral REIT’s units closed unchanged at 78.5 sen on Wednesday, valuing the trust at RM938.5 million.
