AME REIT 1Q net income rises on new properties, declares 2.15 sen distribution

PETALING JAYA (July 30): AME Real Estate Investment Trust (AME REIT) posted higher net income for the first quarter ended June 30, 2026 (1QFY2027), driven by contributions from four properties acquired in the previous financial year and higher rental rates from tenancy renewals.

Net income rose 11% to RM10.23 million from RM9.21 million a year earlier, while revenue increased 17.7% to RM16.64 million from RM14.14 million. Distributable income grew 10.3% to RM11.45 million from RM10.38 million.

The industrial-focused REIT declared, in a Bursa Malaysia filing on Wednesday (July 29), an interim income distribution of 2.15 sen per unit, comprising 1.88 sen taxable and 0.27 sen non-taxable, up from 1.96 sen in the corresponding quarter last year.

The distribution will go ex on Aug 13, with entitlement on Aug 14, and will be paid on Sept 3.

Net property income climbed to RM15.24 million from RM12.74 million, while basic earnings per unit improved to 1.92 sen from 1.74 sen.

During the quarter, AME REIT completed the disposal of three industrial properties at i-Park SILC for RM14.47 million, realising a net gain of RM3.48 million. Separately, it entered into sale and purchase agreements to acquire three industrial land parcels totalling 8.87 acres for RM50.23 million, with the proposed acquisition subject to the fulfilment of conditions precedent.

Looking ahead, the manager said it will continue pursuing growth through acquisitions, proactive asset management and prudent capital management. It added that it remains optimistic of delivering a favourable performance for FY2027, supported by its fully occupied portfolio.

As at June 30, AME REIT's portfolio comprised 41 properties — 38 industrial properties and three industrial-related properties — while net asset value per unit stood at RM1.2593, compared with RM1.2612 at the end of March.

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