Latest news with #MohdIskandarDzulkarnain
New Straits Times
29-05-2025
- Business
- New Straits Times
AmanahRaya Reit acquires RM39mil industrial property in Teluk Panglima Garang
KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARReit) has acquired a single-storey detached factory in Teluk Panglima Garang, Selangor, from Alpha Express Sdn Bhd for RM39 million. The manager of ARReit, AmanahRaya Kenedix Reit Manager Sdn Bhd (AKRM), said ARReit had entered into two agreements under a sale and leaseback arrangement with Alpha Express for a duration of 10 years. AKRM managing director Mohd Iskandar Dzulkarnain said the acquisition aligns with ARReit's strategy to strengthen its industrial asset portfolio with income-generating properties secured under long-term leases. "The asset acquisition benefits ARReit by expanding its existing portfolio, which previously included only one asset in this particular industry. This second asset strengthens our position in the sector and allows us to further grow our industrial asset sub-portfolio. "In general, this collaboration supports industry players who meet our criteria to expand their businesses, while also allowing them to offload assets they consider to have potential to ARReit, which in turn has a positive impact on the economy," he told Bernama at the ARReit Connect 2025 signing ceremony and stakeholders showcase held here today. In addition to the signing ceremony, ARReit Connect 2025 served as a platform to strengthen strategic partnerships, bringing together key stakeholders including Amanah Raya Bhd, HELP University, Alfa University College, Knight Frank, Anytime Fitness and IMT Tech. Meanwhile, Iskandar noted that the total assets under AKRM's management now stand at RM1.3 billion. "We will return to the company's core focus, which is on asset industries involving the healthcare and wellness sectors, as well as educational assets. This remains ARReit's main focus in efforts to expand its existing asset portfolio. "This growth will not stop here — it is expected to continue steadily over the next three years," he said. Additionally, ARReit also announced the successful conclusion of its annual general meeting (AGM), where all resolutions were passed with unanimous shareholder approval. "The AGM reaffirmed continued investor confidence in ARReit's direction and governance, particularly as we embark on a more dynamic portfolio management strategy focused on triple net lease structures, environmental, social, and governance-aligned investments and market diversification," ARReit said.
New Straits Times
01-05-2025
- Business
- New Straits Times
AmanahRaya REIT embarks on transformation for long-term growth
KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) is undergoing a comprehensive strategic transformation process to strengthen the foundation for the company's long-term and sustainable growth. In a statement, the company said this reflects its continuous emphasis on strong financial governance, precision in reporting, and alignment with regulatory best practices. It added that over the past year, AmanahRaya-Kenedix REIT Manager Sdn Bhd (AKRM), the manager of ARREIT, has embarked on a strategic transformation journey aimed at building a stronger foundation for sustainable growth. This transformation is guided by five key initiatives focused on enhancing governance, sustainable business growth, people, systems and financial management. ARREIT said while these efforts are already beginning to reshape the organisation positively, the interim transition phase has had an impact on its financial performance for 2024 (FY24) — a necessary step in delivering long-term value to stakeholders. AKRM managing director Mohd Iskandar Dzulkarnain said the company remains focused on enhancing asset performance and driving operational productivity across our portfolio. "Our commitment is to continuously improve value creation for our unitholders through proactive asset management, sustainable initiatives, and operational excellence," he noted. He added that ARREIT remains financially resilient, supported by a diversified portfolio, proactive tenant engagement, and ongoing asset enhancement initiatives aimed at ensuring sustainable returns for its stakeholders. In pursuance of paragraph 9.19(35) of the Main Market Listing Requirements of Bursa Malaysia, the board of directors of AKRM has issued this clarification following a variance of more than 10 per cent between the unaudited and audited profit after tax figures. The deviation arose as part of the audit finalisation process. For the financial year ended Dec 31, 2024, ARREIT reported a profit after tax of RM1.80 million in the audited financial statements, compared to RM4.98 million in the unaudited results announced on Feb 28, 2025. The variance of RM3.18 million arose from technical adjustments identified and applied during the audit finalisation, in keeping with Malaysian Financial Reporting Standards.
