Latest news with #RM131
New Straits Times
4 days ago
- Business
- New Straits Times
Al-Aqar locks in RM15mil annual rent from new KPJ hospital leases
KUALA LUMPUR: Al-Aqar Healthcare Real Estate Investment Trust (Al-Aqar Reit) is set to secure more than RM15 million in annual base rental income through new long-term lease agreements with KPJ Healthcare Bhd. This follows the trust's proposed acquisition of two new buildings at KPJ hospitals in Ampang and Penang worth a combined RM241 million. The 15-year leases, covering properties at KPJ Ampang Puteri and KPJ Penang, will commence upon the completion of the RM131 million and RM110 million purchases, respectively. Both properties will be leased back to their current operators under structured contracts that include fixed rental escalations and market-based rent reviews. In a bourse filing today, Al-Aqar Reit said the first-year base rent for the Ampang building is RM8.19 million, while the Penang building will contribute RM6.88 million, totalling RM15.07 million annually. The second and third years will see a two per cent increase each year. From the fourth year onwards, rental will be subject to periodic reviews based on open market value but capped at a maximum annual increment of two per cent. "Any adjustment to the rent shall not be more than two per cent incremental increase over the rent for the preceding year," it said, adding that both lease agreements come with renewal options for another 15 years. Unitholders will vote on the proposals at an extraordinary general meeting scheduled for June 25 in Johor Bahru. If approved, the deal will boost Al-Aqar Reit's recurring income profile without materially affecting its net asset value (NAV) per unit. "The proposed acquisitions are not expected to have a material effect on the NAV per unit of Al-Aqar Reit," it added.
Malay Mail
26-04-2025
- Business
- Malay Mail
US not ready to lower 10pc tariff on Singapore imports but both sides to continue talks, says DPM Gan
SINGAPORE, April 26 — The United States is not prepared to lower its 10 per cent tariff on imports from Singapore, but both countries have agreed to explore ways to deepen their economic ties. In a LinkedIn post today, Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong said he had a 'productive' virtual meeting with US Secretary of Commerce Howard Lutnick on April 25 to discuss bilateral economic and business ties, according to The Straits Times. 'I noted that our bilateral trade and Singapore investments support around 350,000 American jobs, and that the US has enjoyed a consistent trade surplus with Singapore which amounted to US$30 billion (RM131 billion) last year,' he said. Gan added that Lutnick acknowledged the excellent and balanced trading relationship between Singapore and the US. 'While the US is not prepared to lower its 10 per cent baseline tariff, we agreed to explore how we could deepen our economic links positively and we will continue to discuss the practical way forward,' he said. Gan, who also chairs the Singapore Economic Resilience Taskforce, said he welcomed Lutnick to visit Singapore and looked forward to strengthening the Republic's trade and investment partnership with the US. On April 2, US President Donald Trump imposed sweeping tariffs on many countries, including a 10 per cent duty on imports from Singapore which took effect on April 5. Singapore's Ministry of Trade and Industry on April 14 lowered the country's 2025 growth forecast to zero per cent to 2 per cent, down from the previous estimate of 1 per cent to 3 per cent, amid the escalating US-China tariff war. Some economists have warned that Singapore could face a technical recession in 2025.
