Category: Axis
Axis – thestar
Axis REIT posts higher profit
Axis Real Estate Investment Trust (REIT) has reported a net profit increase of 27.1% from a year earlier to RM20.96mil for its first quarter ended March 31, 2012, on higher revenue and property revaluation surplus.
During the quarter in review, the company posted revenue of RM30.29mil, up 18.5% from a year earlier.
Axis REIT told Bursa Malaysia that it had registered a property revaluation surplus of RM300,000 for the first quarter of 2012.
It had proposed a first interim income distribution of 4.3 sen per unit, up from 4.2 sen per unit for the corresponding period last year.
Axis – thestar
Axis REIT buys industrial land, buildings for RM26.5m cash
Axis Real Estate Investment Trust (Axis-REIT) is expanding its portfolio of properties with the proposed acquisition of two parcels of indsutrial land with buildings in Labu, Negeri Sembilan, for RM26.50mil cash.
Axis REIT Managers Bhd, the management company of Axis-REIT, said on Thursday the 29,436 sq metres of land with tenure of 99 years expiring in September 2095, was acquired from LRS Property Sdn Bhd. The acquisition was undertaken by OSK Trustees Bhd, the trustee for Axis-REIT.
Axis REIT Managers said the acquisition was to provide unitholders with stable distribution and to achieve growth in net asset value per unit of the fund.
Axis – BT
Axis-REIT posts lower Q4 pre-tax profit
The pre-tax profit of Axis Real Estate Investment Trust (Axis-REIT) decreased to RM31.98 million in the fourth quarter ended Dec 31, 2011 from RM40.99 million in the same quarter last year.
In a filing to Bursa Malaysia today, Axis-REIT said revenue rose to RM29.81 million from RM26.6 million previously.
In view of the current satisfactory performance, the management is
optimistic that the company will be able to maintain its current performance for the coming quarter and the rest of the financial year ended Dec 31, 2012. — Bernama
Axis – BT
Axis REIT to buy property from DHL for RM48.5m
Axis Real Estate Investment Trust has proposed to buy a three-storey office and warehouse in Penang from DHL Properties (Malaysia) Sdn Bhd for RM48.5 million to expand its business.
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At the same time, Axis will lease the property back to DHL for five years. It will have an option to renew the lease for another five years.
“The acquisition is accretive with an unleveraged triple net yield of 8 per cent which will have a long term benefit to the Fund.
“Furthermore the lease has annual built in rental growth which will enhance earnings,” Stewart LaBrooy, chief executive officer of Axis REIT Managers Bhd, said in a statement.
The property, located in Bayan Lepas, has a gross built up of some 231,940 sq ft and comes with a 60 year leasehold title which will expire in 2062.
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Axis-REIT will use existing bank loans to fund the deal. This will raise its gearing level to 40 per cent.
The latest purchase will boost the fund’s asset under management to over RM1.39 billion, upon completion by December 31, 2011.
Axis – BT
Axis REIT to buy property from DHL for RM48.5m
Axis Real Estate Investment Trust has proposed to buy a three-storey office and warehouse in Penang from DHL Properties (Malaysia) Sdn Bhd for RM48.5 million to expand its business.
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At the same time, Axis will lease the property back to DHL for five years. It will have an option to renew the lease for another five years.
“The acquisition is accretive with an unleveraged triple net yield of 8 per cent which will have a long term benefit to the Fund.
“Furthermore the lease has annual built in rental growth which will enhance earnings,” Stewart LaBrooy, chief executive officer of Axis REIT Managers Bhd, said in a statement.
The property, located in Bayan Lepas, has a gross built up of some 231,940 sq ft and comes with a 60 year leasehold title which will expire in 2062.
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Axis-REIT will use existing bank loans to fund the deal. This will raise its gearing level to 40 per cent.
The latest purchase will boost the fund’s asset under management to over RM1.39 billion, upon completion by December 31, 2011.
Axis – thestar
Axis REIT to buy RM48.5m assets
Axis Real Estate Investment Trust (REIT) has proposed an acquisition and leaseback of a three-storey office block and a logistic warehouse complex for RM48.5mil cash from DHL Properties (M) Sdn Bhd.
The agreement was entered into by OSK Trustee Bhd, the trustee for Axis REIT.
The 3.083ha land is located in Barat Daya district, Penang, Axis REIT said in a statement on Tuesday.
“The proposed acquisition and leaseback of the properties is consistent with the investment objective and strategy of Axis REIT and it will be accretive to Axis REIT’s distributable income.
“It will also diversify and enlarge Axis REIT’s portfolio of properties and is expected to benefit in the long term from economies of scale,” it said. – Bernama
Axis – thestar
Axis-REIT Q3 net profit down
Axis Real Estate Investment Trust has posted a lower net profit of RM16.8mil for the third quarter ending Sept 30, against RM24.3mil in the previous corresponding period, while revenue for the period was higher at RM29.2mil versus RM22.4mil.
In a filing with Bursa Malaysia it said that there was an unrealised change in fair value of investment properties of RM11.7mil for the period last year which contributed to a higher net profit compared with its third-quarter result this year.
Axis – BT
Axis REIT buys RM59m Penang properties from Apex
Axis Real Estate Investment Trust (Axis-REIT) is buying two parcels of leasehold industrial land, together with a warehouse and office building in Seberang Perai, Pulau Pinang, from Apex Properties Sdn Bhd for RM59 million.
The acquisition will see Axis-REIT portfolio increase to 28 properties with an asset size of over RM1.33 billion.
CB Richard Ellis has valued the property at RM62 million.
Axis-REIT Managers Bhd chief executive officer Steward LaBrooy described the asset as high yielding. ” It will provide a stable income stream and is consistent with the investment objectives and strategy of the fund and will be accretive to Axis-REIT’s distributable income.”
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Gross annual rental income from the tenant – transport and freight forwarding Schenker Logistic (Malaysia) Sdn Bhd – is RM6.88 million.
Schenker has an agreement that will end in 2014, with an option to renew every two years.
Both parcels of land are adjoining and are located in Bukit Tengah Industrial Park. The land measuring 589,593 sq ft has a tenure expiring in 2052, while the other piece, measuring 8,859 sq ft, has a lease expiring in May 2068.
The purchase will be funded by an existing bank borrowings of Axis-REIT. The proposed debt financing will increase Axis REIT’s gearing ratio to 39 per cent of audited total assets.
The acquisition is expected to be completed before December 31 2011.
Axis – thestar
Axis REIT to acquire land in Seberang Perai
Axis Real Estate Investment Trust (REIT) has entered into an agreement with Apex Properties Sdn Bhd to acquire single-storey warehouses on leasehold land in Seberang Perai, Penang for RM59 million.
The REIT’s manager said in an announcement to the stock exchange that this was part of the REIT’s diversification strategy that would benefit from economies of scale.
Axis – BT
Axis-REIT declares interim dividend
AXIS Real Estate Investment Trust (Axis-REIT) will provide eDividend to its unitholders, starting May this year.
It will be in time for the payment of the first interim income distribution for the quarter ended March 31 2011, which will be made on May 31.
“A letter of notification on eDividend will be issued on April 29 2011 to all unitholders for more information,” the company said in a statement to Bursa Malaysia yesterday.