KUALA LUMPUR (Jan 22): Axis REIT Holdings is targeting foreign companies that want to relocate their operations out of Singapore and China to Malaysia, as an opportunity to add properties to its existing portfolio.
“With renewed interest in the industrial hubs in Johor and Penang by MNCs and Singaporean companies…we see it as a great opportunity to add to our existing portfolio once these properties are built (by the companies),” said Axis REIT CEO Datuk Stewart Labrooy, speaking to the press after its fourth quarter results presentation today.
Labrooy added that Axis had realized the potential Johor had as an industrial hub in 2006, which led to the group working closely together with Johor contractors and builders.
“We work with a lot of Johor contractors and builders who have very good contacts in the business… [they are] very close to us…because of the interest, they actually do a lot of construction and we’re talking to them about doing buyouts on the stuff that they’ve built up,” he said.
Some of the other target acquisitions in 2013 for Axis REIT include properties in Port Klang, Shah Alam and Malacca.
For its fourth quarter ended 31 Dec 2012 (4Q12), Axis REIT posted a revenue of RM34.9 million, an increase of 18.2% from RM29.52 million in 4Q11. Its net profit rose 23.6% to RM20.77 million from RM16.8 million in 4Q11.
The group’s total trust revenue for FY12 rose by 15.9% to RM132.96 million compared to RM114.73 million for the preceding year 2011.
Income available for distribution, including the gain from the disposal of Kayangan Depot, amounted to RM84.81 million.
Axis REIT Managers Bhd (ARMB) has also set aside approximately RM25.56 million (100%) of undistributed realized income to be distributed at 5.6 sen per unit for 2012, which will be payable on 28 Feb 2013.
This has resulted in a total income distribution per unit (DPU) of 18.6 sen for 2012. This is inclusive of the 1.3 sen special distribution from the gains on the disposal of Kayangan Depot.