AmanahRaya-REIT Managers gets new COO

KUALA LUMPUR: Adenan Md Yusof was appointed chief operating officer (COO) of AmanahRaya-REIT Managers Sdn Bhd on May 18.

Adenan is replacing Abas Abd Jalil, who resigned as COO on the same day. The latter was then appointed as AmanahRaya-REIT Managers’ non-executive director. The trust also appointed Shahrol Anuwar Sarman as its non-independent non-executive director on May 18.

In its first quarter ended March 31, 2010 (1QFY2010), AmanahRaya-REIT Managers saw an 11.63% increase in its profit before tax to RM8.67 million, from RM7.76 million during the same period in the previous year. Its revenue for the quarter, meanwhile, was up 6.55% to RM12.22 million, from RM11.47 million in the same quarter a year earlier, due to the increase in rental rates since the second quarter of FY2009 ended Dec 31.

Basic earnings per share for the trust stood at 2.01 sen, versus 1.8 sen the previous year. It declared a dividend of 1.86 sen per share.