Latest news with #LeongKitMay
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.
New Straits Times
30-07-2025
- Business
- New Straits Times
Axis-REIT nets RM47mil in Q2, up 21pct on stronger rental income
KUALA LUMPUR: Axis Real Estate Investment Trust (Axis-REIT) recorded a total trust income of RM90.3 million in the second quarter ended Dec 31, 2025 (2Q25), an 18 per cent increase from RM76.5 million a year ago. Net income rose by 20.5 per cent year-on-year to RM46.95 million, driven by higher property income, it said in a statement today. For the six-month cumulative period ended June 30, 2025, Axis-REIT achieved a total trust income of RM180.1 million, marking an 18.4 per cent increase from RM152.1 million a year ago. Net income for the period rose to RM96.1 million, reflecting an 18.3 per cent improvement year-on-year. Axis-REIT has also announced that it will distribute part of the RM8.8 million net gain from the disposal of The Annex, which was completed on April 30. The second interim income distribution is set at 2.65 sen per unit, which includes 0.14 sen from the disposal gain. The payment will be made on Aug 29, 2025. The distribution also includes a non-taxable portion of approximately 0.15 sen per unit, derived from tax-exempt income and part of the gain from the disposal. This brings the year-to-date distribution per unit to 5.15 sen, marking a 13.2 per cent increase from 4.55 sen in the same period last year. Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May said the strong performance reflects the resilience and quality of its industrial-focused portfolio, supported by sustained demand for our strategically located assets. Despite global uncertainties and rising operating costs, she said the fund remains cautiously optimistic about the industrial sector, as Malaysia continues to attract foreign investments underpinned by strong infrastructure and a robust industrial ecosystem. She added that Axis-REIT is expected to benefit from the disposal of The Annex in the remaining quarters of 2025 and will continue focusing on targeted asset enhancement initiatives to preserve and elevate portfolio value. "With these measures in place, we strive to deliver stable and sustainable returns to our unitholders," she added.
New Straits Times
21-05-2025
- Business
- New Straits Times
Axis-REIT lodges RM3bil Sukuk programme for expansion
KUALA LUMPUR: Axis Real Estate Investment Trust's (Axis-REIT) trustee, RHB Trustees Bhd, through its wholly-owned subsidiary, Axis REIT Sukuk Two Bhd, has lodged a Sukuk Programme with the Securities Commission Malaysia with an aggregate nominal value of up to RM3 billion. In a Bursa Malaysia filing today, Axis-REIT said that the Sukuk Programme, based on the Shariah principle of Wakalah Bi Al-Istithmar, allows for the issuance of Senior Islamic Medium Term Notes (Senior Sukuk) and Subordinated Perpetual Islamic Notes (Perpetual Sukuk). "The proceeds to be raised from the Sukuk issuance will be used to, among others, support Axis-REIT's capital and development expenditure, working capital requirements, refinancing its existing or future Islamic financing, as well as other general corporate purposes," it said. Leong Kit May, chief executive officer and executive director of Axis REIT Managers Bhd, the manager of Axis-REIT, said, "We have secured our maiden credit ratings from RAM Ratings Services Bhd, which recognises Axis-REIT's resilient fundamentals and steady growth trajectory over the years. "The Sukuk Programme forms a key part of our prudent capital management strategy as it allows us to diversify our funding sources and optimise financing costs in a disciplined manner," she said. RAM Ratings has assigned long-term ratings of AA2(s) for the Senior Sukuk and A1(s) for the Perpetual Sukuk, both with a stable outlook, reflecting Axis-REIT's strong credit profile and proven operating track record. This also marks a significant milestone for Axis-REIT as it is the first time it has received inaugural credit ratings based on its corporate credit strength.
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%.
