Axis REIT Posted a 16% Increase In Total Trust Income To RM281.6 Million

Axis Real Estate Investment Trust posted a 16% increase in total trust income to RM281.6 million for FY2022, as compared to FY2021’s RM242.4 million. The net trust income and net income in turn were RM191.8 million and RM190.1 million respectively.

The net trust income includes a revaluation gain of RM27.8 million (FY2021: RM67.8 million). Notwithstanding the revaluation gain, the adjusted net trust income would have been RM164.0 million, 20% higher year on year. 

For the fourth quarter ended 31 December 2022, the realtor recorded a total trust income of RM70.7 million, which translated to a year-on-year increase of 12%.

The groups management company, Axis REIT Managers Berhad, has proposed to distribute 99% of its realised income available for distribution, generated from operations for the period from 23 December 2022 to 31 December 2022 as FY2022 final income distribution of 0.24 sen per unit. Coupled with the income distribution that was declared earlier and payable, its total distribution per unit (“DPU”) declared for Q4FY2022 was 2.33 sen. With this Q4FY2022 DPU of 2.33 sen, the total DPU for FY2022 works out to 9.75 sen, an increase of 2.7% as compared with FY2021’s 9.49 sen. Based on the closing unit price of RM1.79 on 30 December 2022, this translates to a yield of 5.5%. 

Moving forward, the group is will actively pursue quality investments to maintain this commendable performance for 2023.

Previous articleA Feng Shui Guide To Better Chats On WhatsApp – Tips And Tricks For Every Zodiac In The Year Of The Rabbit
Next articleAneka Jaringan Narrows Loss For 1Q Posts Revenue OF RM53 Million


Please enter your comment!
Please enter your name here