Written by The Edge Financial Daily
Tuesday, 25 August 2009 00:29
KUALA LUMPUR: AmFirst Real Estate Investment Trust's (AmFirst REIT) net profit rose 10% to RM10.58 million in its first quarter ended June 30, 2009 from RM9.6 million a year earlier on the back of a 5% rise in revenue to RM23.65 million.
In a statement yesterday, the REIT's manager Am ARA REIT Managers Sdn Bhd said net property income grew marginally to RM15.23 million from RM15.07 million a year earlier. Earnings per unit rose to 2.47 sen from 2.24 sen. Net asset per share remained at RM1.32 as at June 30, 2009. No distribution was declared.
It said the improved performance arose from the contribution of income derived from positive rental reversions recorded from Kelana Brem Towers, The Summit Subang USJ and Menara AmBank.
Am ARA CEO Lim Yoon Peng said it had lined up enhancement works for its PROPERTIES [], with the first building, Menara Merais in Petaling Jaya. The renovation works is expected to be completed by November 2009.
Tuesday, 25 August 2009 00:29
KUALA LUMPUR: AmFirst Real Estate Investment Trust's (AmFirst REIT) net profit rose 10% to RM10.58 million in its first quarter ended June 30, 2009 from RM9.6 million a year earlier on the back of a 5% rise in revenue to RM23.65 million.
In a statement yesterday, the REIT's manager Am ARA REIT Managers Sdn Bhd said net property income grew marginally to RM15.23 million from RM15.07 million a year earlier. Earnings per unit rose to 2.47 sen from 2.24 sen. Net asset per share remained at RM1.32 as at June 30, 2009. No distribution was declared.
It said the improved performance arose from the contribution of income derived from positive rental reversions recorded from Kelana Brem Towers, The Summit Subang USJ and Menara AmBank.
Am ARA CEO Lim Yoon Peng said it had lined up enhancement works for its PROPERTIES [], with the first building, Menara Merais in Petaling Jaya. The renovation works is expected to be completed by November 2009.