AME Elite to sell five industrial properties in Johor to CapitaLand for RM220.8m cash
The sale “highlights the strong market demand for our high-specification facilities and the institutional-grade nature of our industrial parks”.
The sale “highlights the strong market demand for our high-specification facilities and the institutional-grade nature of our industrial parks”.
Quarterly revenue jumped 140.
AME Elite said revenue from the property development segment rose 63.
All other segments recorded revenue growth except for the engineering services segment, which declined due to progression in the completion stage of ongoing engineering projects.
AME Elite plans to allocate the majority of the proceeds towards further development of i-TechValley, as well as other industrial property projects and investments.
“Overall, the board of directors expects the group to achieve better financial performance for FY2025,” AME Elite said.
SD Guthrie said the park will be developed on 641 acres of land in its estate in Kulai as a hub for high-value industries such as logistics, advanced manufacturing and clean technologies.
The collaboration marks KLK’s inaugural venture into industrial property development and represents an expansion for AME Elite outside of Johor and Penang, where it is a major industrial property developer.
RAM Rating Services Bhd has assigned a rating of “AA3” to the IMTN programme, and “P1” to the ICP programme, both with a stable outlook.
Earnings per share fell to 2.