AME REIT Q4 rental income rises to RM13m
JOHOR BHARU: Industrial REIT AME Real Estate Investment Trust (AME REIT) delivered a 4.6% growth in rental income to RM13.1 million for the fourth quarter ended March 31, 2025 (Q4'25) from RM12.5 million in the previous corresponding quarter.
The higher rental income supported a 1.6% increase in net property income (NPI) to RM11.6 million compared to RM11.4 million previously.
The improved performance was mainly driven by income contributions from the acquisitions of two fully-leased industrial properties during Q4'25.
For the 12 months ended March 31, 2025 (FY25), AME REIT generated total rental income of RM50.9 million, a 6% increase from RM48 million in the previous year, and NPI of RM46.4 million, rising 4.5% from RM44.4 million previously.
AME REIT, in a statement said it will distribute RM9.7 million in distributable income for Q4'25, equivalent to a distribution per unit (DPU) of 1.83 sen. The distributable income is adjusted for gain in fair value of investment properties less deferred tax expenses, unbilled lease income receivables, management fees payable in units, and amortisation of capitalised financing costs. The Q4'25 income distribution is payable on May 30, 2025 to unitholders whose names appear in the Record of Depositors of AME REIT at the close of business on May 9, 2025.
Total income distribution for FY25 will amount to RM39.2 million, representing 99.99% of distributable income for the year and resulting in a DPU of 7.43 sen.
I REIT Managers Sdn Bhd CEO and executive director Chan Wai Leo said: 'AME REIT's Q4'25 performance reflects the positive impact of our accretive acquisitions, supporting stable rental income growth and consistent returns to unitholders. Our growth will be further fuelled by the ongoing purchase of five more fully-leased industrial properties in Iskandar Malaysia for a total purchase consideration of RM147.8 million from our sponsor AME Elite Consortium Bhd. The acquisitions, comprising 460,267 sq ft of ALA, are expected to be completed in phases between the third quarter of 2025 and the first quarter of 2026.'
Going forward, he added they are focused on continued expansion in the Malaysian industrial property market to optimise sustainable long-term returns.
AME REIT's portfolio includes 39 properties — 36 industrial units with 2.1 million sq ft of lettable space, and 3 industrial-related assets. Most are located in AME Group's industrial parks in Iskandar Malaysia.
As at March 31, 2025, AME REIT's properties under management are valued at RM773.5 million.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
3 days ago
- New Straits Times
Not Bersatu's practice to pay its bureau chiefs, says Muhyiddin's ex-officer
KUALA LUMPUR: The High Court today heard that Parti Pribumi Bersatu Malaysia (Bersatu) did not pay individuals who led its internal bureaus, including its former legal head Mohamed Haniff Khatri Abdulla. Marzuki Mohamad, the former principal private secretary to party president Tan Sri Muhyiddin Yassin, testified that no payments were made to prominent lawyer Haniff, who headed the legal and constitutional bureau during the party's early years as it was the practice, reported FMT. Marzuki, now a university lecturer, was quoted as saying that,"Two other lawyers also offered their services voluntarily. It was standard practice not to offer remuneration." He was testifying in a 2021 suit filed by Haniff to claim RM12.5 million in legal fees from Bersatu. Apart from Marzuki, Haniff had named Muhyiddin, deputy president Datuk Seri Hamzah Zainudin and treasurer Mohamed Salleh Bajuri as co-defendants. Haniff claimed he received no response on the multiple invoices he had issued between January and March 2021 while Bersatu, in their defence, claimed that Haniff's services from 2016 to 2020 were offered pro-bono. Questioned by Haniff's lawyer Nizamuddin Hamid on whether he knew Haniff was never a party member, Marzuki said he had never asked. On Haniff's invoices and reminders, Marzuki said he had not seen them and that he had learned of Haniff's lawsuit via media reports. Judge Datuk Akhtar Tahir set Aug 25 to deliver his decision after Bersatu lawyer Chetan Jethwani said the defence had closed its case.
The Sun
29-05-2025
- The Sun
Winstar Capital to expand production capacity with 4 lines at new RM14.5m plant
KUALA LUMPUR: Winstar Capital Bhd's new facility, currently under construction in Ijok, Selangor, will boost annual manufacturing capacity to 15,285 tonnes from 6,705 tonnes. The target will be achieved through the acquisition of four additional aluminium extrusion lines. 'The new facility and the acquisition of four additional aluminium extrusion lines are part of our growth strategy, which will significantly boost our production capacity. This expansion is a key step in meeting rising demand and strengthening our market position,' Winstar Capital CEO Chua Boon Hong told reporters after the company's annual general meeting today. Winstar Capital has commenced construction of a manufacturing facility adjacent to its existing plant in Ijok, aiming to support its growth ambitions and meet rising demand. Known as the Lot 903 Facility, the new site, with an estimated cost of RM14.50 million, spans some 80,000 square feet and is designed to accommodate four aluminium extrusion lines along with expanded storage space. Chua said the expansion is progressing well under the original schedule, despite the current tariff episode created by the US government, which has disrupted the global supply chain. 'We anticipate stronger demand coming from our customers towards the end of 2025. We are likely to bring forward the installation of another two new aluminium extrusion lines by the first quarter of 2026, instead of only installing them in the second quarter of 2026,' he added. The new facility is financed through a combination of bank borrowings and internally generated funds, of which RM11.6 million in loans have been secured. In its presentation, Winstar Capital noted that the strategic expansion will boost the group's operational efficiency. Construction began in April 2024 with operations expected to commence by the third quarter of this year. The estimated cost of acquiring the new extrusion lines is RM9.55 million, which will be funded primarily with the proceeds from its public issue. Should there be any shortfall, the group intends to cover the additional costs using bank borrowings and internally generated funds. Chua said, 'With this expansion, we will be able to offer a broader range of extruded aluminium profiles to meet the diverse needs of our customers. As of Dec 31, 2024, we had a total of approximately 5,954 stock-keeping units for our aluminium extrusion segment and the trading and distribution of building materials segment.' He said that with higher tariffs imposed on Chinese aluminium product manufacturers by the US government, Winstar Capital has received a growing number of inquiries from potential European and US customers considering purchasing aluminium products from Malaysian manufacturers. 'Many of them are actively looking for alternative suppliers in Southeast Asia to reduce their overreliance on Chinese manufacturers. This shift in global sourcing is creating new opportunities for us,' Chua stated. Winstar Capital recorded revenue of RM203.39 million for FY24, marking an increase of RM49.7 million or 32.3% compared to RM153.69 million in FY23. The increase was mainly attributable to higher revenue from the aluminium extrusion segment, which rose by RM32.84 million, mainly due to greater demand from customers in the construction and property development industries. In tandem with the revenue growth, the group's gross profit increased by RM6 million, or 19.8%, from RM30.35 million in FY23 to RM36.35 million in FY24. Despite the increase in gross profit, Winstar Capital reported a decrease in profit before tax (PBT) by RM2.09 million, or 17.8%, from RM11.72 million in FY23 to RM9.63 million in FY24. The PBT margin decreased from 7.6% in FY23 to 4.7% in FY24.
The Sun
19-05-2025
- The Sun
RTM Langkawi Broadcasting Complex set to be completed in September
LANGKAWI: The construction of the Radio Televisyen Malaysia (RTM) Langkawi Broadcasting Complex in Kuah here is expected to be completed in September, said Communications Minister Datuk Fahmi Fadzil. He said that, so far, he is satisfied with the project's progress, which has reached 49 per cent, since it was taken over by a new contractor in October 2023. 'Two years ago, this project was considered an ailing project. After stern action was taken together with the Public Works Department (JKR) by terminating the previous contractor and appointing a new contractor, we can see today that the progress of this project is encouraging and it is expected to be completed within the stipulated time. '(Then) several matters will be scrutinised, including the issues of internet and equipment, and most importantly the (complex's) overall structure is almost finished and only a few more issues need to be looked into. Congratulations to the Kedah JKR for being able to complete this project,' he said. He told reporters this after a working visit to the RTM Langkawi Broadcasting Complex Project here today. Also present was Communications Ministry secretary-general Datuk Mohamad Fauzi Md Isa. Fahmi also expressed confidence that the project could be completed as scheduled since several things could be done simultaneously. He added that RTM Langkawi previously rented a Tabung Haji-owned premises for about 30 years, with the rental contract renewed from time to time. It is learnt that the new complex project, costing more than RM11.4 million, also involves the construction of a building with, among others, office administration space, guard room, guest room, ICT rooms, meeting rooms, store, surau, cafeteria and parking facilities. The complex will also have broadcast engineering space like a broadcasting and radio recording studio, editing and ingest room, main control room, newsTV studio, multipurpose studio and a radio server room. The project was considered ailing when the previous contractor, who was appointed in March 2021, failed to complete the building project on the 4.0465-hectare site and his services were terminated in 2023. Meanwhile, Fahmi said the ministry's target after this will be to complete the RTM Complex project in Bintulu, Sarawak. 'Instructions have been given to the KSU (ministry secretary-general) to focus on completing the RTM project in Bintulu, together with the tearing down and reconstruction of several RTM staff quarters,' he said.
