AME REIT posts 11.5% rise in 2Q net property income to RM16 million
Industrial property REIT AME REIT reported an 11.5% increase in second-quarter net property income to RM16 million, driven by new acquisitions and higher renewal rents. Distributable income rose 2% to RM11.71 million, with a distribution of 2.19 sen per unit payable on Nov 26.
PETALING JAYA (Oct 22): Industrial property-focused AME Real Estate Investment Trust (AME REIT) posted an 11.5% rise in second-quarter net property income to RM16 million from RM14.36 million a year earlier. Revenue for the quarter ended Sept 30, 2026 (2QFY2027) increased 11.9% to RM17.55 million from RM15.68 million.
In a Bursa Malaysia filing on Wednesday (Oct 21), the REIT attributed the growth to contributions from newly acquired properties and higher rents on tenancy renewals. Net income climbed 56% to RM15.17 million from RM9.72 million, boosted by an unrealised investment property fair value gain of RM5.05 million, compared with a fair value loss of RM576,000 a year earlier.
Distributable income increased 2% to RM11.71 million from RM11.47 million. Islamic financing costs rose to RM3.58 million from RM2.58 million, while management fees increased to RM1.74 million from RM1.33 million. AME REIT announced a distribution of 2.19 sen per unit, up from 2.16 sen a year earlier. Comprising 1.70 sen taxable and 0.49 sen non-taxable, it is payable on Nov 26 to unitholders registered on Nov 6.
For the six months ended Sept 30, net property income rose 15.3% to RM31.24 million from RM27.1 million, while revenue increased 14.7% to RM34.18 million from RM29.81 million. First-half net income grew 34.1% to RM25.4 million from RM18.93 million. Distributable income rose 6% to RM23.16 million from RM21.85 million, with distributions totalling 4.34 sen per unit against 4.12 sen a year earlier.
The manager said the REIT’s industrial and industrial-related property portfolio, excluding land held for development, had full occupancy. It remained optimistic about performance for the financial year ending March 31, 2027. AME REIT also completed the acquisition of three industrial land parcels totalling 8.87 acres for RM50.23 million on Sept 23. The land is held for the development of industrial buildings expected to generate future rental income.
