Axis REIT’s Wisma Kemajuan damaged by fire, says impact immaterial

KUALA LUMPUR (Feb 12): Axis Real Estate Investment Trust’s (KL:AXREIT) property Wisma Kemajuan has been partially damaged by a fire incident that occurred at an adjacent furniture factory in Sea Park.

There were no injuries or casualties reported in relation to the property, said Axis REIT Managers Bhd in a filing.

“Axis-REIT has adequate fire takaful and also fire consequential loss policy in place for Wisma Kemajuan. Wisma Kemajuan only contributes approximately 1.4% of Axis REIT’s total revenue,” it said.

“Accordingly, the manager expects the financial impact arising from this incident on the net property income and total asset value of Axis REIT to be immaterial. Nevertheless, the fire consequential loss policy covers for loss of rental during the repair period,” it added.

In the financial year ended Dec 31, 2026 (FY2025), Axis REIT revenue or total trust income rose 13.77% to RM364.2 million from RM320.1 million. Net property income rose 14.31% to RM316.21 million from RM276.62 million.

Axis REIT units settled up one sen or 0.48% to close at RM2.09 on Wednesday, giving it a market capitalisation of RM4.23 billion. The counter is up 8.85% this year.

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