Axis-REIT records RM40.97m revenue

January 31 2007

AXIS Real Estate Investment Trust (Axis-REIT) recorded RM40.97 million gross revenue and RM33.13 million net rental income for the financial year ended December 31 2006.

During the year, Axis-Reit registered RM33.17 million total trust income and RM26.67 million net trust income.

Axis Reit Managers Bhd (ARMB), the manager of Axis-Reit, said the trust recorded RM10.8 million gross revenue, RM8.91 million net rental income and RM6.7 million net trust income (realised) during the unaudited fourth quarter ended December 31 2006.

ARMB declared RM26.4 million or 98.8 per cent of the year (2006)'s income plus RM309,340 tax exempt income brought forward from 2005.

"This translates into a total income distribution of RM26.67 million, of which RM12.77 million was paid as interim income distribution for the first half of 2006.

"Income distribution for the second half of 2006 amounted to RM13.9 million," it said.

For the year under review, shareholders were paid 12.95 sen, of which 6.2 sen was paid as interim income distribution for the first half of 2006, and 6.75 sen for the second half of the year.

According to ARMB, the revaluation of all the investment properties have also increased the net asset value per unit from RM1.39 to RM1.43 upon incorporation of the revaluation surplus of RM8.09 million on December 31 2006.

Axis-Reit owns a portfolio of nine commercial, office and office/industrial real estate. The properties are Axis Business Park, Menara Axis, Crystal Plaza, Infinite Centre, Axis Plaza, Kompleks Kemajuan and Kayangan Depot, Axis North Port Logistics Centre 1 and Wisma Bintang.