The Star Online, Photo Credit to The Malaysian Reserve
clock 28-07-2019
hit 746

Axis REIT Expects to Post 7% Net Yield for FY19

Axis Real Estate Investment Trust ( Axis-REIT) is expected to bag a decent seven per cent net yield for the financial year ending Dec 31, 2019 (FY19), should seven acquisitions at a cost of nearly RM250 million be completed in the second half of the year, as scheduled.

The acquisitions are two manufacturing facilities costing RM55.8 million in Nusajaya, two manufacturing facilities of RM55.8 million in Shah Alam, a manufacturing facility in Kota Kinabalu (RM66 million), a manufacturing facility in Nilai (RM50 million) and an RM20.5 million property in Bayan Lepas.

Axis-Reit Managers Bhd Chief Executive Officer and Executive Director Leong Kit May said once the seven acquisitions are completed by year-end, it will bring the total assets under management to RM3.2 billion from the current RM2.9 billion.

"But, every year, revaluation would be done at year-end. So, any revaluation adjustments would be captured in Q4 2019,” she told a media briefing on 25 July 2019. Axis-Reit Managers Bhd is the manager of Axis-REIT.




WHAT DO YOU FEEL ABOUT THIS?

0
LOVE
0
HAPPY
0
SURPRISED
0
SAD
0
ANGRY


COMMENTS
Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.

SIGN UP NEWSLETTER

logo
Monthly Column
The staple of your property-related materials. It's all about being ahead of the game and with The Column, you get carefully selected information that will keep you informed and running with the pack. The best news, articles and properties on the market from the Property Hunter portal, conveniently wrapped and ready, just for you.