Posted by wankongyew > 2015-01-23 14:54 | Report Abuse

AMFIRST seems weak while other reits are doing well.

Posted by prudence > 2015-01-27 16:11 | Report Abuse

then can start collecting

Posted by ejtic > 2015-01-28 23:13 | Report Abuse

When it drops to 80+, buy like nobody biz. Now bear the fruits Leow..

Posted by bathgel > 2015-03-02 09:58 | Report Abuse

lesser dividend

Posted by assaji > 2015-04-16 12:53 | Report Abuse

AmFIRST REIT acquires Mydin Hypermall in Penang for RM250 million
http://www.therakyatpost.com/business/2015/04/15/amfirst-reit-acquires-mydin-hypermall-in-penang-for-rm250-million/

Posted by KCO87 > 2015-05-22 12:52 | Report Abuse

wonder when they announce dividen?

Posted by ejtic > 2015-05-22 19:50 | Report Abuse

Should be next week

Posted by KCO87 > 2015-05-25 11:18 | Report Abuse

Thank you ejtic! :)

Posted by yheehong > 2015-05-25 20:34 | Report Abuse

Next Earnings Announcement 05/26/2015. The date can be obtained from www.bloomberg,com

Posted by gforce2 > 2015-05-28 23:21 | Report Abuse

Half Year Dividend 2.44 sen vs 3.70 sen in 2014 for the same period. (-34%)
Full Year dividend 5.53 sen vs 7.35 sen for the previous yr. (-24%)
3 main factors:
1. Higher interest costs; 2. Higher electricity costs; 3. Lowest occupancy rate in the last 5 years.
Moving away from commercial offices is probably a good step, but I don't think we'll see the share price moving above 95 sen any time soon.

Posted by derricksyl > 2015-05-29 06:59 | Report Abuse

TP 0.80

Posted by derricksyl > 2015-05-29 06:59 | Report Abuse

very2 bad div

Posted by jetchew > 2015-05-29 09:28 | Report Abuse

bad bad bad

Posted by bathgel > 2015-05-29 10:33 | Report Abuse

not that bad, better than other reit

Posted by wploun > 2015-06-12 08:57 | Report Abuse

Final income distribution of 2.44 sen per unit (of which 2.43 sen per unit is subject to withholding tax and 0.01 sen per unit is tax exempt) in respect of six-month financial period from 1 October 2014 to 31 March 2015. Kindly be advised of the following :
1) The above Company's securities will be traded and quoted "Ex ? Dividend? as from: 12 Jun 2015 2) The last date of lodgment :16 Jun 2015
3) Date Payable : 30 Jun 2015

Q: Divided lodgment on next week (16Jun), still people want to sell lower & lower......????

Posted by cfleejb > 2015-06-15 14:45 | Report Abuse

Too many office blocks with low tenancy and Mydin not yet contributing to bottom line

Posted by stepon > 2015-07-08 10:52 | Report Abuse

Keep or sell? Seems like lausai all the way...

Posted by Teo Yee Siong > 2015-07-29 12:22 | Report Abuse

KUALA LUMPUR: AmFIRST Real Estate Investment Trust (AmFIRST REIT) has received the nod from its unitholders to increase its existing approved fund size to 823.68 million units from 686.40 million units.

In a statement on Wednesday, AmFIRST REIT said it has received the approval from the relevant authorities for the 20% increase in the fund size.

It said the resolutions were reached during the company's third annual general meeting today, which were voted by way of a poll and were carried based on the results from the Unit Registrar, Symphony Share Registrars Sdn Bhd and Scrutineers, Ernst and Young.

Posted by kkng0819kk > 2015-08-03 17:36 | Report Abuse

bought 0.975 last yr feb ,and sangkut till now!Sampah....

Posted by bathgel > 2015-08-13 09:45 | Report Abuse

wtf

Posted by gforce2 > 2015-08-13 16:39 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4826709
Quarterly results announced yesterday.

"The decline was mainly due to lower occupancy rate at Prima 9, The Summit Retail and Menara AmBank. The occupancy at The Summit Retail is impacted by the ongoing refurbishment exercise and relocation of tenants. The refurbishment and rebranding of The Summit Retail is expected to be completed by the first quarter of 2016.
Property expenses decreased by 6.2% or RM0.6 million as compared with the corresponding period substantially due to lower electricity charges and facility management fees. Interest expenses were higher by 23% mainly due to increase in the cost of borrowing resulted from the increase in the overnight policy rate (“OPR”) by 25 basis points in July 2014 coupled with the additional borrowing incurred to finance the ongoing refurbishments."

"The Manager expects to conclude the strategic asset acquisition, Mydin Hypermall Penang in the 3rd Quarter of 2015. The acquisition will have a positive impact on the performance of the Trust moving forward."

Posted by Winner > 2015-08-18 09:28 | Report Abuse

One of the worst reits in Bursa.

Posted by Jc > 2015-08-20 11:19 | Report Abuse

Anyone here know why this reit is dropping so badly?

Posted by gforce2 > 2015-08-20 18:26 | Report Abuse

Earnings per share dropped from 1.55 sen to 1.01 sen this quarter vs last year.
Overexposure to commercial office space has hurt similar REITs (e.g. TWRREIT, MQREIT). This is due to a glut in new commercial developments in Malaysia. Couple that with a knee jerk reaction to the weak ringgit and yuan depreciation.

Main factors to consider:
1. According to their financial report/corporate presentation, Prima 9 in Cyberjaya has been vacant for 2 quarters so far. They need to fill it up soon, or sell the asset.
2. Summit Mall USJ still under renovation under 1Q 2016. Short term pain, long term gain.
3. There was also a RM1.1m impairment this quarter for bad debts (trade receivables), which shaved about 0.15 sen off the EPS. Hopefully, this is a one-off, and not recurring.
4. Mydin Hypermall Penang will start to contribute to revenue from 3rd financial quarter onwards.
5. At its peak, this stock was generating 7.3 sen dividends annually. If you were to take 1.01 sen EPS this quarter as a baseline, worst case scenario 4 sen dividend for the year. At 75 sen, that's still a 5.3% dividend yield (net yield 4.8%).

In the short to medium term, I expect this stock to hover between 70 - 80 sen, at least until their quarterly results improve. A good opportunity for longer term investors, as you would be buying a RM 1.21 NAV stock at almost 40% discount.

Posted by vcheekeong > 2015-08-22 11:26 | Report Abuse

0.60-0.70¢ much better deal...

Posted by greatdreamer > 2015-08-22 12:49 | Report Abuse

Amfirst Mull to sell Summit Hotel for RM100-RM110m. (Source: DigitalEdge Weekly Aug17 2015 , page20).

Posted by birkincollector > 2015-10-15 14:26 | Report Abuse

chart looks good

Posted by OKW88888888 > 2015-10-21 21:24 | Report Abuse

slowly pick up.....

Posted by gforce2 > 2015-11-12 02:29 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4916821

Interim income distribution of 2.03 sen per unit (of which 2.02 sen per unit subject to withholding tax and 0.01 sen per unit tax exempt) in respect of the six-month financial period from 1 April 2015 to 30 September 2015.

Quarterly results looks to be in line with expectations, given the current economic climate.
Prima 9 is still vacant.
Dividend yields should start to improve once Mydin Hypermarket Penang is factored in, and after the Summit USJ renovations are done.

Posted by lskhin > 2015-11-12 09:36 | Report Abuse

ya, long term should be very good. Hopefully will touch RM 1.00 very soon.

Posted by Te Yang > 2015-11-21 14:12 | Report Abuse

Amfirst going to issue right placement, 20% volume from its current share volumn.....i think it will delute the EPS.

Posted by cheap1 > 2015-11-24 12:03 | Report Abuse

Why cheapest Reit become even cheaper? Any news?

Posted by I_like_dividend > 2015-11-24 12:26 | Report Abuse

Is dividend cut the reason for drop? Still got assets NTA 1.2 why don't want to sell like Tower Reit or Atrium?

Posted by jetchew > 2015-11-24 16:17 | Report Abuse

what happen to amfirst??

Posted by ykloh > 2015-11-25 00:32 | Report Abuse

How to place out new units @rm1 which is the par value?

Posted by Eddy Lee > 2015-11-25 12:05 | Report Abuse

no day's range for today??!!

Posted by beckham89 > 2015-11-25 23:11 | Report Abuse

why suddenly up so much today..wonder.any good news?

Posted by kkng0819kk > 2015-11-27 09:53 | Report Abuse

Time to relook at this counter again

Posted by Good_buy > 2015-11-27 10:00 | Report Abuse

Agree. AmFirst still have RM 1.2249 assets to sell if they need money or for better use.

Posted by kkng0819kk > Nov 27, 2015 09:53 AM | Report Abuse
Time to relook at this counter again

Posted by gforce2 > 2015-12-01 18:23 | Report Abuse

The last time AMFIRST did a rights issue was in 2012, and the rights were sold at about 20% discount to the theoretical ex-rights price (TERP). If they did a similar sized rights issue now, they would have to price it below 55 sen per share, or risk not having enough people subscribing for it.
Shareholders might not approve it as well.

Private placements would probably be a better bet at this stage. Firstly, share price won't get diluted much, and there's a fresh injection of cash. Secondly, this would stabilize the share price, by letting shareholders know that institutional investors are still buying.

Selling off under-performing assets should also be on their list of things to do.
Increasing their office occupancy rates is going to be a challenge going into 2016, so I'm glad there is some diversification with the upcoming Mydin hypermarket.

Posted by ejtic > 2015-12-07 23:25 | Report Abuse

Diversified is the key to succeed in reits

Posted by rdgbu > 2015-12-09 05:56 | Report Abuse

..other reits do well, this will do good as well when time come.

Posted by I_like_dividend > 2015-12-09 07:24 | Report Abuse

Anyone know why AmFirst Reit doesn't do so especially on their vacant office building eg Prima 9? This is what Tower Reit or Atrium doing. Do we need to inform them? Are they finding any buyers?

Posted by gforce2 > Dec 1, 2015 06:23 PM | Report Abuse

Selling off under-performing assets should also be on their list of things to do.
http://www.ambankgroup.com/sites/AmFirstReit/en/Pages/ContactUs.aspx
http://www.ambankgroup.com/sites/AmFirstReit/en/InvestmentPortfolio/Pages/Prima9.aspx

Posted by I_like_dividend > 2015-12-09 07:27 | Report Abuse

Why not sell Prima 9 to MRCB?

Posted by gforce2 > 2015-12-09 20:45 | Report Abuse

It's a tough market for office space this year. If they are able to sell Prima 9, that would be good. Their website says it is valued at RM77.0 million, but chances are it won't fetch as much if they tried to sell it now.

As for MRCB , it is highly leveraged, and has been paring down debts by injecting its assets
into its own MQREIT (formerly Quill Capita Trust).

Cash is king. And at the moment, not many have it.

Posted by gforce2 > 2015-12-15 21:02 | Report Abuse

http://www.theedgemarkets.com/my/article/amfirst-sells-13-storey-office-building-jln-p-ramlee-rm36m

KUALA LUMPUR (Dec 15): AmFIRST Real Estate Investment Trust (REIT) is disposing of a 13-storey office building at Jalan P. Ramlee for RM36 million, cash, to realise its investment in the property.

In a filing with Bursa Malaysia today, the REIT’s manager Am ARA REIT Managers Sdn Bhd announced that Maybank Trustees Bhd, acting as trustee for and on behalf of AmFIRST REIT, had entered into a sale and purchase agreement with Techvance Properties Management Sdn Bhd, in respect of the disposal.

The property, known as AmBank Group Leadership Centre, is an office building comprising a 10-storey office block, a penthouse and a 3-level car park constructed on a freehold tract spanning 1,428 sq metres.

The building is 25 years old and has a net lettable area of 57,801 sq ft. It was originally acquired by the REIT at RM19.06 million on Dec 21, 2006.

AmFIRST REIT said the disposal enables it to realise its investment in the property at an "attractive" price, considering its age and limited scope for growth on the asset value.

“The proposed disposal will also provide the trust (AmFIRST REIT) with greater financial flexibility to explore potential future acquisitions, which are more yield accretive,” it said.

The filing also mentioned that Am ARA REIT Managers intends to distribute the gain on disposal to unitholders, as income distribution.

“The balance proceeds will be utilised to repay existing bank borrowing and thus, reducing the gearing to provide additional headroom for future acquisition,” AmFIRST REIT said.

The REIT expects the proposed disposal to reduce its gearing to 37%, from 38.3% as at Sept 30, 2015.

AmFIRST REIT estimated that the disposal would be completed by the fourth quarter of financial year ending Mar 31, 2016.

Posted by richkid1 > 2015-12-16 08:23 | Report Abuse

Gain to be booked RM 8.4 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4951489

Posted by thebesticould > 2015-12-17 17:27 | Report Abuse

RM 8 million / 686,402 units in circulation = 11.65 to be received ?

Posted by gforce2 > 2015-12-18 14:36 | Report Abuse

It's 686 million shares, so the estimate is about 1.2 sen to be distributed next year, aside from the regular half-yearly dividends.

Kudos to the management team for selling at a good premium in a slowing office space market.
1. It is a 25 year old building, so a lot of refurbishment activity would be needed in the coming years.
2. NPI was below RM 1.3 million, about 5.5% yield.

(The buyer of AGLC must have some major plans for the land in the near future. At RM 36m, their yield is only about 3.5%. They have until 2018 for all the leases to expire.)

2016 should be a much better year for AMFIRST, upon completion of Summit USJ renovation, and adding in Mydin Penang hypermall triple net rental of about RM16.25m/year (6.5% yield).

I estimate a return to about 5 sen dividend in the next fiscal year. Add in the 1.2 sen above, and that's a very attractive yield (~8.37% gross/ 7.54% nett).

Some other possible activities next year: New shares to be Issued: up to 137.2m shares, based on increase in fund size limit approved at last AGM. If it's a private placement, expect them to raise about RM100m in cash, to offset some of the additional borrowings from the Mydin mall purchase. If it's a rights issue, maybe RM85 - 90m. This is pure speculation, of course.

Posted by richkid1 > 2015-12-19 11:33 | Report Abuse

I prefer AmFirst to sell more of their office buildings not only AGLC.