AmFirst – BT
Am ARA REIT posts RM89m gross revenue
Am ARA REIT Managers Sdn Bhd, the Manager of AmFIRST Real Estate Investment Trust, registered a gross revenue of RM88.5 million and property expenses of RM32.01 million for the year ended March 31, 2011.
Total income was RM45.36 million of which RM3.61 million was attributed to fair value adjustments while net realisable income available for distribution was RM41.75 million.
"For the six-month financial period ended March 31, 2011, AmFIRST has declared a final income distribution per unit (DPU) of 4.94 sen.
Taking into account the interim DPU payout of 4.81 sen, the total DPU was maintained at 9.75 sen, similar to the previous year.
"Based on the closing price of RM1.16 per unit, this represented a dividend yield of 8.4 per cent," AmInvestment Bank Group said in a statement today.
At the end of the current financial year, unitholders were rewarded with a total return of 13.9 per cent, comprising of a capital gain of 5.45 per cent and dividend yield of 8.41 per cent (based on RM1.16 per unit as at March 31, 2011).
It said although the commercial office market was expected to remain competitive, AMFirst was confident of delivering its rental income stream through focusing on active asset and portfolio management.
"The government's initiatives via the Economic Transformation Programmes as well as other liberalisation measures will no doubt be an economic driver for continued growth of the office market.
"Besides, the Trust is actively exploring acquisitions to grow its investment portfolio," said Am ARA REIT Chief Executive Officer YP Lim in the statement. – Bernama
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