AME REIT posts slight rise in 4Q property income, to pay 1.83 sen per unit
NPI for the fourth quarter ended March 31, 2024 (4QFY2025) rose 1.
NPI for the fourth quarter ended March 31, 2024 (4QFY2025) rose 1.
The deal allows MGB to start getting approvals and launch the project in the third quarter, which is expected to take four years to complete.
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.
The contract is deemed a related-party transaction as Casa Inspirasi is an indirect subsidiary of LBS Bina, while LBS Bina's group executive chairman and largest shareholder Tan Sri Lim Hock San is also MGB’s group executive chairman.
NPI for the quarter ended Dec 31, 2024 (3QFY2025) was RM11.
The sukuk wakalah programme will have a perpetual tenure, with the first issuance expected within 90 business days from the date of lodgement or within a time frame specified by the SC.
The project is located in Brinchang’s commercial hub, featuring 705 residential units, with built-ups ranging from 595 to 1,370 sq ft, and priced from RM476,000.
“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.