AME-REIT’s second-quarter revenue rises by 8.6%


AME-REIT’s portfolio currently comprises 34 industrial properties.

PETALING JAYA: AME Real Estate Investment Trust (AME-REIT), which is maintaining a 100% occupancy rate across its assets, is actively seeking lucrative assets as part of its growth strategy.

I REIT Managers Sdn Bhd chief executive officer and executive director Chan Wai Leo said the REIT is committed to expanding its portfolio with assets that generate attractive returns and enhance its income streams.

AME-REIT’s portfolio currently comprises 34 industrial properties, with an agreed lettable area of 1.9 million sq ft, and three workers’ dormitories.

The properties are primarily situated across three of its industrial parks in Iskandar Malaysia.

For the second quarter ended Sept 30, 2024 of financial year 2025 (2Q25), AME-REIT saw its revenue increase by 8.6% to RM12.8mil from RM11.8mil in the previous corresponding quarter.

Consequently, its net property income for the quarter under review grew by 8.7% to RM11.7mil from RM10.8mil in 2Q24.

Chan said the REIT’s performance in 2Q25 was driven by contributions from acquisition of an industrial property in 3Q24 and its positive rental reversions.

The REIT recorded a total distributable income of RM9.9mil for 2Q25, up from RM9.4mil previously.

It will reward unitholders by distributing 99.8% of the total distributable income for 2Q25, equivalent to a distribution per unit of 1.87 sen.

For the first half of its financial year 2025 (1H25), AME-REIT saw its topline inching up to RM25.11mil from RM23.16mil in the previous corresponding period.

The net property income for 1H25, similarly, increased to RM23.14mil from RM21.49mil in 1H24.

   

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