AXREIT (5106): Quarterly Results for Last 10 Financial Years

fyi sunreit will be disposing of sunway medical to sunway berhad

2023-01-31 09:46

https://www.theedgemarkets.com/node/649958

2023-01-31 09:47

Just noticed the below:
EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) disposed 706,500 shares on 26-Jan-2023.
On 26-Jan-2023, the total day's volume for AXREIT was only 897,300. Meaning non EPF account, the free market volume was only 190,800 shares.

2023-02-01 08:41

PassionateInvestor

Hmm..not great results from Axis this time. Suppose the private placement has impacted it.

2023-04-18 19:36

zen_2k

non-stop PP, but PP proceeds utilised to grow company doesnt seem to prove that earnings can go higher, although there is said to be impacted by 3 properties - 2 undergoing upgrade, 1 lease contract looking for new lessee - and some provision for bad debt... regardless, I grow sceptical... anyone can bounce off ideas?

2023-04-25 03:41

u prefer Axreit do PP or Rights Issue?

2023-04-25 07:36

@speakup, as unitholders of course I prefer Rights Issue. However from AXREIT view point, PP is easier to execute and in my opinion much faster.

2023-04-25 10:34

provision of RM7.31 million in impairment !!

Axis REIT provides RM7m impairment as tenant Yongnam defaults on rental
https://www.theedgemarkets.com/node/666028

2023-05-08 20:46

Wow
Besok limit down?

2023-05-08 21:51

7m impairment out of avg 35mil profit per Q. That's 20% impairment and yet no limit down????? So bad news leh

2023-05-09 13:00

moven00

Market is slowly and finally getting to it sense. More down down down for Axreit. Their super exposure on single customer exposure is finally hitting them very hard. If you like Logistics REIT I think Mapletree is a much better ones as it doesn’t have high single customer exposure.

2023-05-10 17:43

That's why I prefer Sunreit, which has 20+ properties over a diverse spectrum of industries.

2023-05-10 18:36

Nice drop, added more position today.

2023-05-16 17:52

moven00

Mr Market very kind to let retailers sell and now finally the reality. Drop kaw2 first before we can collect back.

2023-05-17 09:19

what were those resignation and appointment lately?

2023-06-02 10:13

Siow Looi

It has become family business

2023-07-04 17:19

Pinky

Bye bye glory days of Axis

2023-07-26 18:18

Stanley7959

Just some random thoughts after reading about National Energy Transition Roadmap (NETR)

Idea:
Axis renting out rooftop / installing solar panel to sell green energy

For instance: Axis Shah Alam Distribution Centre 2 (SADC2)
“145,314 square feet of rooftop area from Axis Shah Alam DC2 is tenanted by two tenants that have mounted solar electric generating systems.”

Based on some rough calculation from ChatGPT with data from year 2021
Assuming 140,000 square feet of solar panel installed (we assume not the entire 145,314 square feet are being installed with Solar Panel)

Energy Production per year: 4,139,100 kWh/year
Energy Price Worth in MYR: MYR 902,121.8/year

Since Axis total lettable area is 12,726,260 square feet
Assuming 10% of lettable area can be installed with Solar Panel

Energy Production per year: 35,478,000 kWh/year
Energy Price Worth in MYR: MYR 7,734,204/year.

Reference:
https://chat.openai.com/share/3037df72-c1bd-4442-b50a-315b86abddc6

Challenges:
1. Existing tenants have the rights of the rooftop they are renting ?
2. Large scale CAPEX required for installation of Solar Panel ?
3. NETR does not go as planned ?

I don’t really have any solid data to support this idea, but it is on my mind for quite some time and personally I think it is a good opportunity for Axis.

2023-08-30 14:41

Nepo

Axis Real Estate Investment Trust (Axis REIT) has obtained a judgement in default against its former tenant at Axis Steel Centre @ SiLC in Nusajaya, Johor, over a default on rental payments and unexpired future rental payments amounting to RM110 million. Axis REIT said the judgement was served to Yongnam Engineering Sdn Bhd (YESB) and its corporate guarantor which is listed on the Singapore Exchange, Yongnam Holdings Ltd, as both parties did not enter their appearance in the lawsuit

2023-10-21 18:43

Nepo

It added that the current rental is RM250,000 per month where the rental rate shall increase by 8% for the period between March 1, 2026 to Feb 28, 2029.

The purchase price was based on the market value of RM48mil, as appraised by independent registered valuer, First Pacific Valuers Property Consultants Sdn Bhd, in its valuation report dated Aug 23, 20230.

Axis-REIT said the acquisition will be funded by existing bank financing, which will increase Axis-REIT’s financing ratio to 37.04% of the audited total assets as at Dec 31, 2022, which is still below the gearing limit of 50%, as prescribed by the guidelines on Listed Real Estate Investment Trusts issued by the Securities Commission

2023-10-26 05:20

newbie2y

guys, remember to subscribe to the DRIP if possible!😎

2023-10-28 08:19

https://property.enanyang.my/%e8%b6%8b%e5%8a%bf/%e5%bb%ba%e5%a4%9a%e5%b1%82%e4%bb%93%e5%ba%93%e5%ba%94%e5%af%b9%e5%9c%b0%e5%b0%91%e5%9c%b0%e8%b4%b5/

Solid good QR despite Yongnam and Bukit Kemuning properties being vacant. Recently completed/acquired properties almost made up the difference. When these 2 are tenanted, the distribution income will be way higher!
IDIP is most welcome, just wished that the electable portion can be higher.

2023-10-28 09:36

Nepo

2023-10-29 12:47

i3 changed the format of showing dividend? previously I can see the tax percentage of dividend, now I cant find where is it..?

2023-11-06 17:15

newbie2y

@i3kyan, yep, cannot find in i3...can found in bursa announcement though-
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3396007

2023-11-06 20:00

what is the price for latest IDRP?

2023-11-27 18:02

@i3kyan
It is priced at RM 1.70/unit for this round of IDRP.

2023-11-27 21:29

may i know where can i check the details of IDRP? i cant find anywhere google.. :(

2023-12-21 12:12

i3kyan, why check google? Check on official BURSA announcement.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3395859&corporate_action=1

2023-12-21 12:29

@Brutus, thanks so much

2023-12-21 16:49

bilisinvestor

I think the coming qr will not be so good

2024-01-18 00:38

4q23 result better than expected. Div 2.4sen. 2023 rent reversion 5.9%. Trouble Axis Steel Centre@ SiLC found tenant.

Likely qtr div 2.4sen is sustainable in 2024.

Strong emphasis on Green factory make Axis stand out n continue attract tenant.

2024-01-24 13:53

weesiong91

silc i think not easy to get a new tenant

2024-02-24 23:57

KingKKK

Unfazed by Volatility: 5 Malaysia REITs with Strong Fundamentals (KingKKK) - AXREIT, CLMT, IGBREIT, SUNREIT, PAVREIT

https://klse.i3investor.com/web/blog/detail/bestStocks/2024-04-21-story-h-182972911-Unfazed_by_Volatility_5_Malaysia_REITs_with_Strong_Fundamentals_KingKKK

2024-04-21 19:34

Acquired Amsteel Bukit Raja land RM352m. Gearing go up from 0.34 to 0.42. Year end Private Placement again?

Since Axis price movement is quite stable, PP placees r biggest winner since they got discount about 5%.

2024-04-23 13:28

Hopefully next QR, AXREIT will announce another round of IDIP again instead of PP. This way retail investors can benefit instead of just Institutional Investors (EPF) to benefit. Last round IDIP was priced at RM 1.70 only!

2024-04-23 20:23

fong7

I don't like PP because it almost always gave me odd lots, which is impossible or very expensive to sell. Unless i am big investor, who can buy lots of shares to round up the PP offers to avoid odd lots, which I am certainly not one of them.

2024-04-24 17:07

fong7

Axreit's performance is only stable but not improving, which is kind of disappointed. I thought its warehouse business (now including own property development capability) could enhance its profits. Maybe still need more years. This strategy has at least run more than 5 years now? Still not much fruit.

2024-04-24 17:10

fong7

Expecting at least above 5% increase in yield p.a. for a 10 year performance. But seems didn't happen at all.

2024-04-24 17:11

@fong7, PP= Private Placement, usually offered to big institution like EPF.

2024-04-24 19:36

any good news on the reason it suddenly come up?

2024-05-02 10:13

Price go up as high as RM1.95 after disposing ASC@Silc for RM162m. Disposal proceed enable recycle capital for new acquisition. Therefore, Private placement not so soon unless another big acquisition coming.

2024-05-02 11:42

PassionateInvestor

"Gearing should increase to 41% following these acquisitions, but the REIT will plan to undergo a placement to repay its borrowings" - RHB-OSK
Not another one...

2024-07-24 10:07

2Q24 div 2.25sen disappointing. RM180m Axis Mega DC2 completed built in Mar24 has no tenant!

2024-07-30 11:36

PassionateInvestor

EPF is continuously selling at the current price so that they can buy it cheaper during private placement? How ridiculous...

3 weeks ago

Added more position today in anticipation for the coming income distribution.

2 weeks ago

remus

declare two times div 2.35 & 1.11 this QR, next Q can expect another div of 2c+?

2 weeks ago

@remus, the 1.11c dividend is for the period 1/10 till 12/11. AXREIT is treating existing unitholders fairly as 13/11, they will list additional new shares (Private Placement). So, next quarter the income distribution is only for the period 13/11 to 31/12 with dilution. Hence maybe at best expect another 1.0c.

2 weeks ago