Latest news with #AxisREITManagersBhd
New Straits Times
01-08-2025
- Business
- 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
30-07-2025
- Business
- The Star
AXIS REIT records higher 2Q earnings
Axis REIT Managers Bhd chief executive officer Leong Kit May. PETALING JAYA: Axis Real Estate Investment Trust (Axis REIT) reported a higher net profit of RM46.95mil for the second quarter ended June 30, 2025 (2QFY25), compared with RM38.96mil in the same quarter last year, driven by stronger property income. Revenue for the quarter rose to RM90.25mil from RM76.53mil a year earlier, while basic earnings per unit increased to 2.32 sen from 2.23 sen. In a filing with Bursa Malaysia, Axis REIT said total trust income and net income for the quarter stood at RM90.25mil and RM46.95mil, respectively. For the first half of FY25, net profit rose to RM96.08mil from RM81.22mil, while revenue increased to RM180.12mil from RM152.07mil in the same period last year. The group said it remains optimistic about maintaining its performance in FY25, supported by its existing property portfolio and continued efforts to pursue quality investment opportunities. Axis REIT also declared a second interim income distribution of 2.65 sen per unit, including an additional 0.14 sen per unit from the partial disposal gain of The Annex, payable on Aug 29, 2025. 'Our strong performance reflects the resilience and quality of our industrialfocused portfolio, supported by sustained demand for our strategically located assets. 'Despite the headwind from global uncertainties and rising cost of operation, we remain cautiously optimistic on the industrial sector as Malaysia continues to attract foreign investments, underpinned by well-established infrastructure and robust industrial ecosystem,' Axis REIT Managers Bhd chief executive officer/executive director Leong Kit May said in a statement.
The Star
23-04-2025
- Business
- The Star
Axis REIT targets RM430mil in new property acquisitions
Axis REIT Managers Bhd chief executive officer Leong Kit May PETALING JAYA: Axis Real Estate Investment Trust (REIT) aims to acquire new properties worth RM430mil, adding to its 69 assets across Peninsular Malaysia with total assets under management of RM5.21bil. The new target for acquisition value marks a sharp jump from the RM300mil target mentioned in January. Axis-REIT Managers Bhd chief executive officer cum executive director Leong Kit May said potential acquisition targets have been identified. These will be 'high-quality, yield-accretive' assets that are strategically located. Axis-REIT also reported yesterday that its net trust income for the first quarter ended March 31 (1QFY25) increased by 16.2% year-on-year (y-o-y) to RM49.13mil. Meanwhile, total revenue rose by nearly 19% y-o-y to RM89.87mil. The improvement was driven by contributions from newly acquired assets, commencement of new tenancies at Axis Mega Distribution Centre (Phase 2), as well as continued positive rental reversions across the portfolio. In 1Q25, Axis-REIT spent about RM4.51mil for the enhancement of its properties, including maintenance. With the higher net income, the trust's earnings per share for 1Q25 inched up marginally to 2.44 sen. Axis-REIT looks to distribute 99% of its 1Q25 realised income to its unitholders. A 2.5 sen distribution per unit has been announced for the first quarter. It will be payable on May 30, with the book closure date on May 8. 'The manager is optimistic that in view of the satisfactory performance of Axis-REIT's existing property portfolio and its growth strategy to actively pursue quality investments, it will be able to maintain its current performance for the financial year ending Dec 31, 2025.' In line with its capital recycling strategy, Axis-REIT has entered into a sale and purchase agreement for the proposed disposal of The Annex in Petaling Jaya, for a total cash consideration of RM24.2mil. The disposal is expected to generate net gains that will be distributed to unitholders upon completion. As at end-March 2025, out of Axis-REIT's 69 properties, a total of 58 assets enjoyed 100% occupancy. Overall, the occupancy rate stood at 97%.
