Latest news with #RM14.1mil
The Star
5 days ago
- Business
- The Star
Acquisitions forecast to lift AME-REIT's earnings
RHB Research said it expected quarter-on-quarter earnings to improve. PETALING JAYA: Analysts have maintained their forecasts for AME Real Estate Investment Trust (AME-REIT) after the recent announcement of its first quarter results. RHB Research, which raised its target price for AME-REIT to RM1.80, said the REIT's results for the first quarter of its financial year ending March 31, 2026 (1Q26) met expectations, supported by contributions from a recent acquisition. 'We turned more bullish on its valuation given wider yield spread post-rate cut in the overnight policy rate and rising investor interest in domestic-centric names. 'We like the REIT for its high debt headroom, substantial exposure to floating-rate debt (81%) that will benefit from lower rates, and sturdy sponsor-backed pipeline to tap Johor's growing industrial market,' the research house added. At last look, the stock was at trading RM1.60. RHB Research said it expected quarter-on-quarter earnings to improve, supported by the ongoing acquisition of properties slated for completion in 2Q26. Beyond the immediate term, FY26 earnings should be further lifted by the full-year contribution from a recent acquisition spree, which includes five properties estimated to generate an additional RM4.5mil in FY26 gross rental income, complemented by the renewal of nine existing tenancies (27% gross rental), the research house added. 'We see room for continuing inorganic growth, supported by a low gearing level of 23%, providing financing headroom of RM220mil on top of the recent rate cut. 'Meanwhile, we view the downside risks from the sales and service tax expansion as relatively limited for AME-REIT, given its long-term master leases and a tenant profile that largely consists of established multinational companies capable of absorbing higher tax-related costs.' RHB Research noted that on a yearly basis, 1Q26 revenue rose 14.7% to RM14.1mil, supported by additional contributions from two properties (i-Park SAC 23 and 24, and iTechValley 46) acquired in 4Q25, as well as higher rental rates from tenancy renewals. Despite a 3.2% increase in 1Q26 core profit, net margins declined by 7.2 percentage points to 64.9%, mainly due to a rise in interest expenses following the acquisitions and higher operating costs. The research house said risks for AME-REIT include cancellation of acquisitions, slowdown in economic growth, and lower-than-expected rental revisions.
The Star
19-06-2025
- The Star
RM14.1mil lost in crime so far
Cyber, multimedia categories top Kelantan's commercial cases KOTA BARU: Kelantan recorded a total of 601 commercial crime cases during the first five months of this year, resulting in losses amounting to RM14.1mil, according to state police chief Comm Datuk Mohd Yusoff Mamat ( pic ). He said that based on statistics comparing cases and financial losses by the modus operandi of commercial crimes, the cyber and multimedia crime category recorded the highest number of cases at 401 incidents, or 67% of the total cases, and resulting in losses amounting to RM7.47mil. 'Common cybercrimes include phone scams, fake purchases via social media, job scams and love scams. 'The second highest category involves investment scam cases, the use of electronic cards and other related crimes with 105 cases recorded, accounting for 17.4%, and losses totaling RM4.54mil,' he said at a press conference after the Kelantan police monthly assembly yesterday, Bernama reported. Meanwhile, crimes related to finance, banking, cooperatives and insurance recorded 81 cases (13.47%), with total losses amounting to RM966,336.38. 'For cases involving forgery, embezzlement and land-related offences, only seven cases were recorded (1.16%), with losses amounting to RM85,000. Corporate cases also recorded seven cases (1.16%), but with significantly higher losses of RM1.05mil,' he said. Comm Mohd Yusoff added that the police are intensifying awareness and prevention efforts through collaboration with relevant agencies and the public to combat the increasingly complex nature of commercial crimes. 'Over the past few months, we have seen an alarming rise in street crimes, including robbery, snatch theft and house break-in, as well as a growing number of commercial crimes through online platforms. 'Crimes such as online fraud, investment scam and identity theft not only result in financial losses but also impact the emotional well-being and sense of security within the community,' he added.
