Axis-REIT's shares higher during early trade following RM80mil warehouse acquisition in Selangor
At 9.58 am, the counter was two sen higher at RM2.03 with a total of 311,300 shares traded.
In a filing with Bursa Malaysia on Friday, Axis-REIT via Axis REIT Managers Bhd stated that RHB Trustees Bhd, the trustee for Axis-REIT, has signed an agreement with the vendor TS Worldwide Warehousing Sdn Bhd for the purchase.
It said TS Worldwide will undertake to subdivide the master land and deliver to RHB Trustees a final land area of about 41,248 square metres (4.12 hectares), along with the buildings on it.
Meanwhile, RHB Investment Bank said it anticipates a positive outcome from the acquisition as it supports the REIT's ongoing strategy of delivering consistent inorganic growth.
"The purchase price implies a decent gross yield of 6.4 per cent, which is reasonable, since the asset is fully leased under a six-year term and is strategically located within a key logistics hub,' it said in a note today.
The investment bank also maintained a 'buy' rating on Axis-REIT with a target price of RM2.23 per share. - Bernama Trading ideas: RHB, Inari, Bintulu, Cypark, KNM, Itmax, Tanco, TSA, Axis REIT, HCK, Skygate, Pestec, Westports, FN
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
26 minutes ago
- New Straits Times
Bursa Malaysia opens lower on US tariff concerns, Wall Street decline
KUALA LUMPUR: Bursa Malaysia opened slightly lower on Wednesday, tracking Wall Street's decline as sentiment turned cautious following weak US economic data and tariff announcements by President Donald Trump on the semiconductor and pharmaceutical sectors. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.16 points, or 0.08 per cent, to 1,537.48 from Tuesday's close of 1,538.64. The benchmark index had earlier opened 0.72 of a point lower at 1,537.92. Market breadth was negative, with 197 decliners outpacing 98 gainers. Another 287 counters were unchanged, 1,920 untraded, and seven suspended. Turnover stood at 168.44 million shares worth RM82.74 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local bourse mirrored the weakness on Wall Street, where sentiment turned cautious following weaker-than-expected US job market data. "The situation worsened after Trump mentioned that separate tariffs would soon be imposed on both the semiconductor and pharmaceutical sectors. "Nonetheless, we believe overall sentiment remains positive and expect the FBM KLCI to trend within the 1,535–1,550 range today," he told Bernama. Among the heavyweights, Maybank and Public Bank rose 10 sen each to RM9.67 and RM4.25, respectively. IHH Healthcare added three sen to RM6.88, CIMB was unchanged at RM6.75, while Tenaga Nasional fell four sen to RM13.24. On the actively traded list, NexG eased half-a-sen to 53 sen, Top Glove dropped 2.5 sen to 61 sen, and Hartalega declined six sen to RM1.26. Harvest Miracle Capital and Pharmaniaga gained half-a-sen each to 16.5 sen and 19 sen, respectively. On the broader market, the FBM Emas Index fell 18.35 points to 11,523.62, the FBMT 100 Index declined 16.74 points to 11,289.92, and the FBM Emas Shariah Index slipped 31.83 points to 11,537.17. The FBM 70 Index dropped 60.50 points to 16,606.25, while the FBM ACE Index edged down 0.60 of a point to 4,630.86. By sector, the Financial Services Index added 18.17 points to 17,466.63. The Industrial Products and Services Index slipped 0.93 of a point to 158.47, the Energy Index fell 0.39 of a point to 740.01, and the Plantation Index declined 9.23 points to 7,354.12.
Malay Mail
26 minutes ago
- Malay Mail
Bursa opens lower, tracking Wall Street's weakness on US data, tariff news
KUALA LUMPUR, Aug 6 — Bursa Malaysia opened slightly lower on Wednesday, tracking Wall Street's decline as sentiment turned cautious following weak US economic data and tariff announcements by President Donald Trump on the semiconductor and pharmaceutical sectors. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.16 points, or 0.08 per cent, to 1,537.48 from Tuesday's close of 1,538.64. The benchmark index had earlier opened 0.72 of a point lower at 1,537.92. Market breadth was negative, with 197 decliners outpacing 98 gainers. Another 287 counters were unchanged, 1,920 untraded, and seven suspended. Turnover stood at 168.44 million shares worth RM82.74 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local bourse mirrored the weakness on Wall Street, where sentiment turned cautious following weaker-than-expected US job market data. 'The situation worsened after Trump mentioned that separate tariffs would soon be imposed on both the semiconductor and pharmaceutical sectors. 'Nonetheless, we believe overall sentiment remains positive and expect the FBM KLCI to trend within the 1,535–1,550 range today,' he told Bernama. Among the heavyweights, Maybank and Public Bank rose 10 sen each to RM9.67 and RM4.25, respectively. IHH Healthcare added three sen to RM6.88, CIMB was unchanged at RM6.75, while Tenaga Nasional fell four sen to RM13.24. On the actively traded list, NexG eased half-a-sen to 53 sen, Top Glove dropped 2.5 sen to 61 sen, and Hartalega declined six sen to RM1.26. Harvest Miracle Capital and Pharmaniaga gained half-a-sen each to 16.5 sen and 19 sen, respectively. On the broader market, the FBM Emas Index fell 18.35 points to 11,523.62, the FBMT 100 Index declined 16.74 points to 11,289.92, and the FBM Emas Shariah Index slipped 31.83 points to 11,537.17. The FBM 70 Index dropped 60.50 points to 16,606.25, while the FBM ACE Index edged down 0.60 of a point to 4,630.86. By sector, the Financial Services Index added 18.17 points to 17,466.63. The Industrial Products and Services Index slipped 0.93 of a point to 158.47, the Energy Index fell 0.39 of a point to 740.01, and the Plantation Index declined 9.23 points to 7,354.12. — Bernama
The Star
an hour ago
- The Star
Bursa sees mild profit-taking after previous day's rally
KUALA LUMPUR: Bursa Malaysia stayed little changed at the opening bell after the previous day's rally as optimism over a US interest rate cut helped to buoy optimism. The profit-taking was slight, with the FBM KLCI slipping 1.72 points to 1,537.92. Overnight, Wall Street stocks ended lower as investors fretted over the potential impact of Trump's tariffs on company earnings while a US services report for July pointed towards stalling activity. In local analyst reports, TA Securities said optimism over a potential US interest rate cut may lift market sentiment in the near term, but a sustained move would depend on stronger buying momnetum and a significant improvement in liquidity. Malacca Securities said the local bourse is expected to turn slightly cautious today followig the dip in the US, but remains bullish on the utilities, construction, telecommunication, and renewable energy sectors. Its top picks in the segments are YTL Power, Tenaga Nasional, IJM, Time dotCom, Gas Malaysia and Solarvest. It added that investors could start accumulating banking stocks to capitalise on their attractie dividends for long-term investment purposes. Meanwhile, Hartalega continued to slip six sen to RM1.26 after declining yesterday on the back of a weak earnings result. The glove maker later announced it had received a notice of additional assessment of RM101.4mil from the Inland Revenue Board for assessment years 2017 to 2022. Frontken saw some profit-taking, shedding five sen to RM4.30 after surging yesterday on its quarterly result announcement. Unisem dropped six sen to RM2.37 and UWC fell five sne to RM2.44. Of actives, NexG was flat at 53.5 sen, Top Glove slid three sen to RM60.5 sen and Pharmaniaga was up 0.5 sen to 19 sen.
