KUALA LUMPUR, Feb 27 (Bernama) -- AmREIT Managers Sdn Bhd (“AmREIT”), the Manager of AmFIRST Real Estate Investment Trust (“AmFIRST REIT” or the “Trust”), today announced another quarter of improved results by the Trust, delivering a 7.9% quarter-on-quarter growth in realised net income for the third quarter of the current financial year (“3Q FY2026”) of RM4.6 million, driven by higher overall portfolio occupancy and rental rates, increased income contribution from co-working spaces and carpark and lower interest expense. Together with the improved realised net income achieved in the first and second quarters of the current financial year, the Trust delivered a double-digit growth of 19.5% in realised net income for the nine-month of the current financial year (“9M FY2026”) of RM13.3 million, compared to RM11.2 million achieved in the nine-month period of last financial year.
Key Financial Highlights for 9M FY2026:
• Gross Revenue: RM81.6 million, up 3.2%
• Net Property Income: RM46.3 million, an increase of 3.5%
• Realised Earnings Per Unit: 1.94 sen per unit, up 19.5%
Portfolio occupancy continued its upward trajectory in 3Q FY2026, driven by new tenancies and renewals across several properties, in particular at Menara AmBank, Wisma AmFIRST, Prima 9 and Prima 10.
Property expenses increased marginally by 0.6% in 3Q FY2026, compared to the same quarter of last financial year, mainly due to higher building maintenance cost, assessment charges, and leasing commission associated with new tenancies that contributed to the improved overall occupancy. This increase was largely offset with lower electricity expenses.
Finance costs decreased by 4.8% quarter-on-quarter, supported by a lower average cost of borrowings, following Bank Negara Malaysia’s 25-basis points cut in the Overnight Policy Rate in July 2025. With approximately 67% of the Trust’s borrowings on floating rates, the Trust remain well-positioned to benefit from a lower interest rate environment, estimating annual interest saving of approximately RM1.3 million for every 25-basis points reduction in the cost of debt. This favorable interest rate environment is expected to boost the Trust’s earning resilience.
The Trust’s consistent performance is underpinned by effective leasing strategies and disciplined cost optimization. Barring unforeseen circumstances, the Manager remains cautiously optimistic that the Trust will continue to deliver stronger performance for the remainder of the financial year, supporting further enhancement of income distribution to Unitholders.
About AmFIRST REIT Listed on 21 December 2006, AmFIRST REIT currently owns eight (8) properties valued at RM1.57 billion. These include Bangunan AmBank Group, Menara AmBank, Wisma AmFIRST, The Summit Subang USJ, Prima 9, Prima 10, Jaya 99 and Mydin Hypermall, Bukit Mertajam. The Trust focuses on investing in income-producing real estate which are primarily for commercial use. AmFIRST REIT is managed by AmREIT Managers Sdn Bhd.
SOURCE: AmBank Group
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Mr Chong Hong Chuon
Chief Executive Officer
Tel: 03-7955 8780
AmFIRST REIT’s website: https://www.amfirstreit.com.my
--BERNAMA
