KUALA LUMPUR: Axis Real Estate Investment Trust’s (Axis-REIT) net income more than doubled to RM99.98mil in the fourth quarter ended Dec 31, 2021 (4Q21) towards RM49.27mil posted a yr earlier.
Its complete belief income in 4Q21 stood at RM62.9mil, up 9.43% from RM57.51mil in 4Q20.
For the complete monetary yr, Axis-REIT’s net income jumped 41% to RM200.36mil towards RM142.06mil in the previous yr, pushed by a better achieve in truthful worth of funding properties.
The achieve in truthful worth in FY21 was RM67.8mil towards RM19mil in the previous yr.
It posted a 7.8% enhance in complete belief income to RM242.4mil in FY21 in contrast with RM224.9mil in the earlier yr.
The increased income was primarily attributed to the completion of 5 new acquisitions, the graduation of latest tenancies at Axis Industrial Facility @ Rawang and constructive rental reversion in FY21.
Axis REIT Managers Bhd, the administration firm of Axis-REIT has proposed to distribute 99% of its realised income out there for distribution, generated from operations for the interval from Dec 16, 2021 to Dec 31, 2021 as FY21 closing income distribution, giving a distribution per unit (DPU) of 0.38 sen.
The 2021 closing income distribution will likely be payable on Feb 28, 2022 and the ebook closure date is Feb 8, 2022.
In an announcement, Axis-REIT stated it had accomplished the acquisition of 5 properties price a complete of RM223.2mil, elevating its complete funding properties worth to RM3.6bil.
The fund dimension elevated by 13.3% to 1.63 billion models from FY20’s 1.44 billion models upon completion of the position train on Dec 20, 2021 and implementation of the income distribution reinvestment plan.
The variety of unitholders in flip expanded by over 55% to 10,521 as at finish FY21 from 6,776 as at finish FY20.
In a separate submitting to Bursa Malaysia, Axis-REIT introduced that it had secured Shopee Express Malaysia Sdn Bhd to lease your entire Bukit Raja Distribution Centre 2 (BRDC 2) for a interval of 15 years, upon completion of the proposed growth of BRDC 2.
The proposed growth entails the development of a single-storey warehouse and ancillary buildings, enhancement of an present 3-storey workplace block with a complete gross built-up space of roughly 620,096 sq ft.
Axis-REIT stated the event work was anticipated to start out in the primary quarter of 2022 and to be accomplished for handover to the Shopee Express newest by Aug 31, 2023.
The estimated growth price (excluding land) of this proposed growth is roughly RM130mil.
