Axis-REIT to acquire Port Klang warehouse for RM80mil
PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) has proposed to buy a warehouse site in Telok Gong, Port Klang from TS Worldwide Warehousing Sdn Bhd for RM80mil cash.
In a filing with Bursa Malaysia, the trust noted the facility measures 41,248 sq mt or 10.19 acres of leasehold land expiring in April, 2093. The structure has a net lettable area of 259,310 sq ft.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
19 hours ago
- The Star
Axis-REIT to acquire Port Klang warehouse for RM80mil
Warehouse facility in Telok Gong, Klang. PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) has proposed to buy a warehouse site in Telok Gong, Port Klang from TS Worldwide Warehousing Sdn Bhd for RM80mil cash. In a filing with Bursa Malaysia, the trust noted the facility measures 41,248 sq mt or 10.19 acres of leasehold land expiring in April, 2093. The structure has a net lettable area of 259,310 sq ft.
New Straits Times
20 hours ago
- New Straits Times
Axis REIT acquires property in Port Klang for RM80mil
KUALA LUMPUR: Axis Real Estate Investment Trust (Axis REIT) is acquiring a single-storey detached warehouse with an annexed double-storey office, as well as a one-and-a-half storey detached warehouse and other ancillary buildings, in Port Klang, Selangor, for RM80 million. Axis REIT Managers Bhd said RHB Trustees Bhd, the trustee for Axis REIT, has signed an agreement with the vendor TS Worldwide Warehousing Sdn Bhd, for the purchase. TS Worldwide will undertake to subdivide the master land and deliver to RHB Trustees a final land area of about 41,248 square metres (4.12 hectares), along with the buildings on it, it said in a filing with Bursa Malaysia today. Axis REIT Managers said the acquisition is in line with the fund's investment objectives and its growth strategy to provide the unitholders with stable income distribution and to achieve growth in the net asset value per unit of Axis-REIT, by acquiring high-quality, earnings accretive property with strong recurring rental income. "The acquisition will be accretive to Axis REIT's distributable income and adds to the property portfolio that will benefit the Fund in the long term," it said. The deal is expected to contribute positively to the earnings of Axis REIT for the financial year ending Dec 31, 2026, on agreement completion date, which is targeted to be by the fourth quarter of 2026.
The Star
a day ago
- The Star
YTL-REIT records rise in net property income
In Malaysia, the REIT holds 13 properties with a combined value of RM2.66bil. PETALING JAYA: YTL Hospitality Real Estate Investment Trust (YTL-REIT) expects the hospitality sector to remain resilient in Malaysia, Australia and Japan – the markets where it operates – supported by sustained demand and active portfolio management. 'The group is actively managing its business portfolio and making strategic decisions to protect long-term growth, while ensuring sustainable value creation for its unitholders,' it said in a filing with Bursa Malaysia. This comes as the YTL-REIT posted a 0.9% rise in net property income (NPI) to RM292.07mil for the financial year ended June 30, 2025 (FY25), despite a 1.2% dip in revenue to RM548.3mil. The REIT attributed the performance to additional rental contributions from refurbished AC Hotels in Kuala Lumpur, Penang and Kuantan, as well as a new rental agreement for AC Hotel Ipoh, which commenced in April. Hotel Stripes and the step-up rental from the renewed lease of JW Marriott Hotel – both in Kuala Lumpur – also supported earnings, it said. Overall, its Malaysian portfolio saw steady growth, with revenue up 5.9% to RM163.1mil in FY25 from RM154mil in FY24 and NPI rising 6% to RM154.9mil from RM146.1mil. In contrast, revenue from Australia and Japan fell 4.1% and 2.1% year-on-year to RM358.6mil and RM26.6mil respectively, with NPI dropping 3% to RM116.1mil in Australia and 11.4% to RM21.1mil in Japan. The lower NPI from its Japanese assets was due to repair and maintenance works, YTL-REIT explained. For the fourth quarter ended June 30, 2025 (4Q25), YTL-REIT's topline dipped about 2.4% to RM127.03mil from the RM130.19mil in the previous corresponding quarter. NPI for the quarter under review fell 2.8% to RM63.97mil from RM65.78mil in 4Q24. YTL-REIT declared a final income distribution of 4.8372 sen per unit for the second half of FY25, bringing the total to 7.75 sen – representing a 100.4% payout ratio. This was slightly lower than the 8.27 sen distributed in FY24, which had a 95% payout ratio. Earnings per unit fell to 8.72 sen in FY25 from 10.44 sen in the previous financial year. On a brighter note, the REIT said it recorded a RM124mil revaluation surplus in May 2025, lifting the value of its investment properties to RM5.06bil from RM4.94bil. In Japan, it has two properties valued at RM501mil, while in Australia, it owns three properties worth RM1.9bil. In Malaysia, the REIT holds 13 properties with a combined value of RM2.66bil. Net asset value per unit, however, declined 1.3% to RM1.725 as at end-June, from RM1.746 a year earlier. As at June 30, YTL-REIT managed a portfolio of 4,915 rooms across Malaysia, Australia and Japan. Properties in Malaysia and Japan remain under master lease agreements, while its three Marriott-branded hotels in Australia recorded a stable average occupancy rate of 82.9% in FY25, compared with 82.5% in FY24. Its total borrowings stood at RM2.33bil, with a gearing ratio of 42.8% and an interest cover of 2.1 times. The group has a total asset value of RM5.44bil and the group said it has an estimated debt headroom of RM621mil for potential acquisitions. YTL-REIT closed unchanged yesterday at RM1.13 a unit, valuing the trust at RM1.93bil.
