AmanahRaya REIT Focuses On Asset Performance And Value Creation
AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) has reinforced its commitment to operational excellence and sustainable growth, reporting a resilient performance for the financial year ended December 31, 2024.
Over the past year, AmanahRaya-Kenedix REIT Manager Sdn. Bhd., the Manager of ARREIT, embarked on a strategic transformation journey aimed at building a stronger foundation for sustainable growth. This transformation was guided by five key initiatives focused on enhancing Governance, Sustainable Business Growth, People, Systems, and Financial Management. The group said while these efforts are already beginning to reshape the organisation positively, the interim transition phase has had an impact on ARREIT’s financial performance for FY2024 — a necessary step in delivering long-term value to stakeholders.
Mohd Iskandar Dzulkarnain, Managing Director of AmanahRaya-Kenedix REIT Manager Sdn Bhd (AKRM), stated, “We remain focused on enhancing asset performance and driving operational productivity across our portfolio. Our commitment is to continuously improve value creation for our unitholders through proactive asset management, sustainable initiatives, and operational excellence.”
Financial Performance
For FY2024, AmanahRaya REIT reported rental income of RM77.65 million, an increase from RM72.28 million in the previous year. The net income after taxation stood at RM13.53 million, up from RM7.63 million in FY2023.
The Trust declared a final income distribution of RM0.9430 per unit for the semi-annual period ending December 31, 2024, amounting to RM5.4 million, with payment scheduled by March 20, 2025.
Portfolio Developments
As of December 31, 2024, AmanahRaya REIT’s portfolio comprised 11 properties with a total fair value of RM1.3 billion. The diversified portfolio includes office complexes, educational institutions, industrial buildings, retail complexes, and hotels, located across Johor, Kedah, and the Klang Valley.
In December 2024, the Trust completed the acquisition of a private education asset in Glenmarie, Shah Alam, for RM31.4 million, enhancing its exposure to the education sector.
Conversely, the proposed sale of the Contraves Building in Cyberjaya for RM42.5 million was terminated in January 2025 after the purchaser failed to fulfill the stipulated conditions. The management stated that this termination has no material impact on the Trust’s performance.
Strategic Outlook
AmanahRaya REIT aims to raise its occupancy rate to 90% by the end of 2025, focusing on acquiring high-yielding assets and divesting non-core properties.
The Trust’s proactive asset management and strategic acquisitions underscore its commitment to delivering sustainable returns to stakeholders.
