AmanahRaya Real Estate Investment Trust (“AmanahRaya REIT”) reported its financial results for the first quarter ended 31 March 2025 (“Q1 FY2025”), recording steady year-on-year growth supported by new lease commencements and prudent capital management.
For the quarter under review, AmanahRaya REIT recorded rental income of RM19.9 million, representing a 15.5% increase year-on-year compared to RM17.2 million in the corresponding quarter of the previous year (“Q1 FY2024”).
The growth was largely attributed to the commencement of several new leases in January 2025, which contributed positively to the quarter’s revenue performance. As a result, Net Property Income (“NPI”) rose to RM12.7 million, up from RM10.8 million a year earlier.
AmanahRaya REIT’s realised income before taxation surged by 69.0% to RM3.4 million, compared to RM2.0 million in Q1 FY2024. This strong performance was underpinned by the higher NPI as well as a 6.9% reduction in borrowing costs, which declined to RM6.7 million from RM7.2 million previously.
The improvement in financing cost was achieved through partial loan redemptions and proactive interest rate management by the Manager. Meanwhile, trust expenses increased to RM2.7 million from RM1.9 million, following the revision of the Manager’s fee from 0.8% to 1.0% effective Q2 FY2024, alongside higher professional and administrative costs.
As at 31 March 2025, AmanahRaya REIT’ maintained a healthy Net Asset Value (NAV) of RM728.97 million or RM1.2717 per unit, compared to RM722.53 million at the end of December 2024.
The Trust’s gearing ratio remained at a prudent level of 42.9%, in line with its capital management strategy. Cash and cash equivalents stood at RM24.6 million, a notable increase from RM4.0 million as at the preceding quarter, following disciplined operational cash flow management and timing of financing activities.
Mohd Iskandar Dzulkarnain, Managing Director of AKRM said, “We are pleased to begin the financial year with a strong first quarter. The positive rental reversion and new lease commencements reflect the robustness of our portfolio and the success of our leasing strategy.”
The quarter also reflects continued momentum in AmanahRaya REIT’s ongoing transformation journey, which is anchored on five key focus areas: strengthening governance, empowering people, enhancing systems and processes, driving sustainable growth, and reinforcing financial management.
These initiatives are aligned with the Trust’s long-term ambition to build a resilient, performance-driven REIT that delivers consistent and sustainable value to its unitholders.
Looking ahead, the Manager remains focused on prudent capital management, cost optimisation, and strengthening relationships with financial institutions to secure more favorable financing terms. No new acquisitions or disposals were made during the quarter, and the property portfolio remains unchanged.
