AMFIRST REITS

KLSE (MYR): AMFIRST (5120)

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Last Price

0.36

Today's Change

-0.005 (1.37%)

Day's Change

0.355 - 0.365

Trading Volume

1,033,200


8 people like this.

535 comment(s). Last comment by KINGV 4 weeks ago

Posted by I_like_dividend > 2021-04-20 06:53 | Report Abuse

1.42 sen dividend can get earlier 1 month than 2020.

firehawk

4,587 posts

Posted by firehawk > 2021-04-20 08:25 | Report Abuse

NAV 1.200 (Mar21)
(1.225,Mar20)

Posted by traintobullland > 2021-04-20 20:34 | Report Abuse

Dividend still good

nuke

349 posts

Posted by nuke > 2021-04-21 09:34 | Report Abuse

Net loss 14.9m for Q4

cheap1

270 posts

Posted by cheap1 > 2021-04-26 09:21 | Report Abuse

Reits lovers must add while Amfirst still the cheapest?

Why_

719 posts

Posted by Why_ > 2021-05-10 16:43 | Report Abuse

Amprop can privatise not Amfirst?

Hidup_PN

571 posts

Posted by Hidup_PN > 2021-05-24 15:46 | Report Abuse

Shopping mall can open not good news?

Hidup_PN

571 posts

Posted by Hidup_PN > 2021-05-24 15:48 | Report Abuse

Cheapest Reits where can find in Bursa if not Amfirst?

Hidup_PN

571 posts

Posted by Hidup_PN > 2021-06-01 09:28 | Report Abuse

10% electric bill discount for shopping malls extend 3 more months until Sep 21 why not good news?

pirate99

822 posts

Posted by pirate99 > 2021-06-01 10:50 | Report Abuse

@Goldenhorse view do make sense and couldn't agree more with you.
Btw what is GG mate ? Am kind of new to that slang..

pirate99

822 posts

Posted by pirate99 > 2021-06-01 16:09 | Report Abuse

Thanks bro for the clarity. Sentral reit do look attractive too, with price hoovering around 0.86c. My bet looking at market sentiment & FMCO, price will slide further around 0.60c i guess (which am willing to wait).

Hidup_PN

571 posts

Posted by Hidup_PN > 2021-06-01 16:25 | Report Abuse

WFH 2 weeks until June 14th vs 10% electric bill discount until Sep'21 which 1 longer haha.

Hidup_PN

571 posts

Posted by Hidup_PN > 2021-06-01 16:26 | Report Abuse

Shopping malls as vaccination centre but govn must pay rental to speed up vaccination?

pirate99

822 posts

Posted by pirate99 > 2021-06-01 16:32 | Report Abuse

Public turnaround at shopping complex is also low pre FMCO, MCO, RMCO.
I smell opportunity to collect low (But how much low only God knows). See your self when you go buy groceries next.

pirate99

822 posts

Posted by pirate99 > 2021-06-01 17:32 | Report Abuse

Dividen ? consider as bonus la if u can get.

8888_

2,906 posts

Posted by 8888_ > 2021-06-03 11:43 | Report Abuse

Who said none? I just received last month haha.

Posted by Goldenhorse > Jun 1, 2021 5:22 PM | Report Abuse
Does any one knows if valuation drop, and book losses, does it mean that no dividend?

8888_

2,906 posts

Posted by 8888_ > 2021-06-03 11:45 | Report Abuse

Latest "full lockdown" many condemned meaning by weekend many will still flock to shopping malls?

8888_

2,906 posts

Posted by 8888_ > 2021-06-03 11:56 | Report Abuse

RM50 charge for retail workers to receive Covid-19 vaccination is to defray costs, says association
https://www.thestar.com.my/news/nation/2021/06/02/rm50-charge-for-retail-workers-to-receive-covid-19-vaccination-is-to-defray-costs-says-association

Posted by fortunefire > 2021-06-03 14:44 | Report Abuse

today sapu some at 0.395 yumyum

8888_

2,906 posts

Posted by 8888_ > 2021-06-04 10:59 | Report Abuse

TS Azman Hashim ctr. Why not privatise like Amprop or MMC?

Posted by Goldenhorse > 2021-06-25 18:13 | Report Abuse

Guys. resolution 1 let's reject. say No to private placement. it dilutes shareholders dividend!!!

Posted by Goldenhorse > 2021-06-25 18:14 | Report Abuse

resolution 2 let's grill the management why you need more money. to pare down loan or pay increment and bonus?

reitpulse

33 posts

Posted by reitpulse > 2021-07-04 10:40 |

Post removed.Why?

Posted by fortunefire > 2021-07-24 11:32 | Report Abuse

covid cases has reached 15k a day. better sell your tickets now b4 it's too late.

Jnlee

215 posts

Posted by Jnlee > 2021-09-05 14:47 | Report Abuse

They passed the resolution to issue pp

Jnlee

215 posts

Posted by Jnlee > 2021-09-05 15:58 | Report Abuse

not po.right issues

Posted by Goldenhorse > 2021-09-08 05:03 | Report Abuse

I don't think they are desperate. raised in AGM told them to come with circular for our approval before approving themselves. if not directors over power the shareholders

Posted by Goldenhorse > 2021-09-08 05:03 | Report Abuse

they want to do new share issuance they need to justify and for our approval not director

Posted by Goldenhorse > 2021-09-08 05:04 | Report Abuse

dividend coming, likely better than last year I think. since they give lesser discount

Posted by Orang_Selangor > 2021-09-10 16:02 | Report Abuse

Inter-district travel today can start so Shah Alam people can go to Subang Parade?

Posted by fortunefire > 2021-10-11 16:54 | Report Abuse

not moving even allowed to travel interstate. This counter gone case.

Posted by I_like_dividend > 2021-11-25 09:10 | Report Abuse

1.09 sen dividend ex-date 10th Dec enjoy first. Cheapest Reit must buy more as economy recover from >95% vaccination. Even earlier proposed RI cancel?

lingch899

270 posts

Posted by lingch899 > 2022-01-28 17:35 | Report Abuse

Buy Buy Buy!!

Posted by The_JQuestion > 2022-04-27 20:54 | Report Abuse

biar betol REIT can making loss

Posted by Goldenhorse > 2022-06-20 14:17 | Report Abuse

It is the cheapest REITS in malaysia to real physical value (cost approach). Cheapest Dividend to Price value. Say Dividend ratio is fair valued to industry average 4% yield. (Average 3.5 sens / 4%) = 87.5 sens (based on industry average)

Posted by Goldenhorse > 2022-06-20 14:18 | Report Abuse

Carpark business coming back from people returning to office. Interesting support

Posted by Goldenhorse > 2022-06-27 16:53 | Report Abuse

Soon EPF will realised that the dividend yield of Amfirst is the best and margin of safety using the price to book ratio is also the best.

gforce2

202 posts

Posted by gforce2 > 2022-07-05 16:27 | Report Abuse

https://www.theedgemarkets.com/article/amfirst-reit-dispose-menara-amfirst-petaling-jaya-rm62-mil

Following the disposal, the REIT will incur net loss on disposal of RM4.93 million.

It is noted that Menara AmFIRST was first acquired by the REIT in 2006 for an initial cost of RM57.1 million. As at end-March, its audited net book value stood at RM64.6 million.

“The manager opines that considering the age and limited scope for growth of the asset, it is opportune to dispose of this asset to repay existing borrowings to optimize the trust’s gearing level,” the REIT said.

It added that the proceeds will be used to pare down its existing borrowings.

The proposed disposal is expected to be completed by 3Q22, it said.

===

It's an old building, only 60% occupied. Probably only earning enough to cover the loan repayments. Better for them to clean up their balance sheets. Take a small haircut now, NAV will still be way above current market price.

Posted by Alexrealdeal > 2022-07-06 13:07 | Report Abuse

Keep for long term

Posted by Alexrealdeal > 2022-07-08 09:54 | Report Abuse

Gotchance for 050

pkchong

19 posts

Posted by pkchong > 2022-08-24 14:24 | Report Abuse

With the dividend payout of 1.93 sen last May and estimate to have another 1 sen this December; at current price of $0.38, we will have slightly more than 7% of net dividend for this year.
Also good potential for long term holding with NTA stood at $1.17 which is >3 times the current share price.

Justmeme

137 posts

Posted by Justmeme > 2022-10-01 21:16 | Report Abuse

with one of the highest gearing ratio REITs, you do not think with the increasing interest rates, it will have a very negative impact on the company moving forward ?

Posted by NatsukoMishima > 2022-10-13 10:56 | Report Abuse

Dont cheat by dividen , this is hopeless stock never rebound for 10 years , high rates will impact their profits !

pkchong

19 posts

Posted by pkchong > 2022-10-14 22:09 | Report Abuse

The price has been on downtrend since early 2012, with sign of stabilizing in 2018; but continue to downtrend for couple of year, then on sideways since. At current price, I think the downside is limited. I have been buying since early 2018 and averaging down with current average cost at ~$0.48 excluding dividend and ~$0.415 considering dividend, mean loss of ~11.5% at current price of $0.36.
Malaysia interest rate increase is quite moderate in my opinion. With gearing ratio at 49.5% or slightly more than $820M, the interest impact is not that significant and still tolerable. The occupancy rate on some of the property are worrying though, hope the management will work harder to improve the performance.

Posted by NatsukoMishima > 1 month ago | Report Abuse

Never ever invest a long term downtrend stock , u will lose capital eventually ! The dividen is useless if stock price keep downward !

KINGV

49 posts

Posted by KINGV > 1 month ago | Report Abuse

The performance of AMFIRST REITS is truly disappointing. The NAV per unit is around RM1.17 and yet the last traded price is RM0.345 . The average annual return based on total return per unit since its listing date on 21 December 2006 is practically zero. I have interest in this counter and would like to bring out some options that are floating around that might provide some relief to the minority shareholders.

1) The major shareholder or anybody could privatize AMFIRST REITS by buying out the other shareholders at say
half the NAV per unit of RM1.17 which comes to RM0.585 . Taking a REITS private has been done before. Take the
case of AHP REITS of which I have interest indirectly. It was taken private at RM1.00 per unit when the last traded
was around RM0.80 +- .

2) Sell some more buildings with low occupancy even at a discount to their market prices. This will help to reduce
borrowings which will be useful in an increasing interest rates regime. There is no point keeping so many building
buildings. It is possible Malaysia could have a recession looking at the worldwide economy currently and if that
happens , one might find difficulty in selling.

3)There was talk of having a PP (private placement). Generally this is not in the interest of minority shareholders.
Moreover the amount raised will be minimum at current unit price and does not make a dent in the borrowings.
Let us assume the placement price is at a 10% discount and the placement quantity is 20%. This means that the
amount raised will be 0.9 x 0.345 x 0.20 x 686 = RM42.6006 millions. This amount does not make a dent in the
total borrowings of around RM800 millions. The minority shareholders get a rotten deal since the NAV will be
reduced quite a lot and the earnings per unit could be diluted. One possible solution is for the parties taking up
the PP to push up the unit price of the REITS before the PP is announced.



curiousq

200 posts

Posted by curiousq > 4 weeks ago | Report Abuse

Why the parties take up the PP should push up the price? Isn't the lower is better for them to buy?

KINGV

49 posts

Posted by KINGV > 4 weeks ago | Report Abuse

It is true the parties taking up the PP would prefer a lower price. That is why I always feel a PP is a rotten deal for minority shareholders since they suffered so much and yet to received salt rubbed on their wounds. My point is this . The price is so low ( I think this reits P/NAV is the lowest among the reits) and as such the PP would not bring in much money. Since a PP is a private deal , why don't the management make a deal with the parties taking up the PP to push up the price by a certain percentage before the PP is announced. This will help to bring in more money and appease the minority shareholders. Anything is possible if the management care for the minority shareholders. If not consider other options . After all the majority shareholders have deep pockets.

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