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New Straits Times
13-07-2025
- Business
- New Straits Times
REITs poised for earnings boost from acquisitions and renovations
KUALA LUMPUR: Real estate investment trusts (REITs) are poised to post stronger earnings on the back of ongoing acquisitions and asset enhancements, according to RHB Investment Bank Bhd (RHB Research). The firm said AME REIT is on track to complete RM148 million worth of acquisitions, while Axis REIT is expected to deliver healthy year-on-year earnings growth following RM644 million in acquisitions completed in the second half of 2024. IGB REIT's RM2.7 billion acquisition of Mid Valley Southkey was highlighted as a key move to tap into growth opportunities in the Iskandar Malaysia market. Meanwhile, Pavilion REIT is anticipated to finalise the acquisition of Pavilion Hotel KL and Banyan Tree KL for RM480 million. RHB Research said this would provide positive operating synergies with its flagship mall. Sentral REIT is also expected to complete its RM70 million acquisition of Arcoris Plaza, part of its strategy to diversify its asset base. The firm said a potential disposal of the vacant Wisma Sentral Inai could help reduce borrowing costs. Sunway REIT recently completed Phase 2 of its refurbishment of Sunway Carnival Mall, which is expected to support a strong rebound in average rental rates. Despite downside risks from the expanded Sales and Service Tax (SST) and new electricity tariffs, the research house said REITs are well positioned to weather the impact due to growth initiatives and tenant relationship strategies. "While there is no clear guidance yet on the impact from the new cost pressures, we think REITs may delay the imposition of higher rental reversions for certain tenants to maintain positive relationships while they adjust to the new cost base, which would be more beneficial in the long run. "Likewise, REITs in the past have delayed raising the service charge to tenants due to a higher electricity tariff," it said in a research note. RHB Research's top pick is Pavilion REIT, citing attractive dividend yields compared to its closest peers, backed by high occupancy rates that should support solid earnings growth in the long term. Overall, the firm has maintained an "Overweight" call, adding that REITs remain a reliable shelter for investors seeking defensive assets, supported by robust domestic spending, easing bond yields, and inorganic growth strategies across multiple REITs. "We think the pros outweigh the cons, most notably from the expansion of SST, which could potentially provide a downside risk to rental reversions, of which the REITs with strong asset quality should be relatively shielded from," it added.
New Straits Times
10-06-2025
- Business
- New Straits Times
Reit sector set for strong second half
KUALA LUMPUR: Malaysia's real estate investment trust (Reit) sector is set for a resilient second half of 2025 (2H25), driven by asset recycling, enhancement works and a recovery in hospitality. Maybank Investment Bank Bhd (Maybank IB) said key catalysts include Sunway Reit's RM613 million divestment of a tertiary property and Axis Reit's RM24 million sale of The Annex — a warehouse with office space. It also pointed to Pavilion Reit's RM480 million hospitality acquisition and Axis Reit's purchase of six new properties. The firm said asset enhancement by Sunway Reit and IGB Reit will support income growth, while KLCCP and Sunway Reit are expected to benefit from a post-Ramadan boost in hospitality. "We also see strategic catalysts among them Reits, including CapitaLand Malaysia Trust (CLMT)'s industrial diversification into logistics to make up 7.9 per cent of assets under management by financial year 2026 (FY26) and Sentral Reit's ongoing pivot away from pureplay office exposure. "Al-Salam is progressing on its "DISRUPT27" repositioning strategy, with asset recycling and Komtar JBCC's on-going reconfiguration expected to support medium-term yield and valuation recovery. "Pavilion Reit and CLMT's planned placements and new assets also offer medium-term upside to earnings and distribution per unit growth," the firm said. With Bank Negara Malaysia expected to consider an Overnight Policy Rate (OPR) cut in 2H25, Maybank IB said the trusts with higher floating-rate debt, currently around 47 per cent of sector average, stand to benefit from reduced financing costs. The firm said this supports valuation upside and lowers financing costs for growth-oriented Reits. "Nonetheless, most Reits continue to guide for stable dividends, and with gearing levels largely within comfortable thresholds. There remains room for selective growth via yield-accretive acquisitions," it added. Maybank IB said the Reits' management maintained a cautiously optimistic outlook, flagging several macro uncertainties. These include potential implementation of an 8.0 per cent service tax on rental, which would add costs for tenants while limiting Reits' ability to raise rents, as well as potential increase to electricity tariffs and broader economic uncertainties, such as fuel subsidies and tariff wars. The firm maintained its "positive" stance on the the sector, underpinned by resilient fundamentals, attractive yields and visible catalysts for income growth in 2H25. It noted that as the Reits appear to head towards further asset diversification, quality of assets in its portfolio would be crucial. Sunway Reit remains Maybank IB's top pick with a target price of RM2.13. Other "Buy" calls include Pavilion Reit and Axis Reit, with target prices of RM1.83 and RM2.01, respectively, backed by income resilience and asset defensiveness High-yield plays include YTL Hospitality Reit at RM1.18, Sentral Reit at 88 sen and Capitaland Malaysia Trust at 76 sen.
Daily Express
05-06-2025
- Business
- Daily Express
Man jailed for concealing over RM480,000 in Facebook investment scam proceeds
Man jailed for concealing over RM480,000 in Facebook investment scam proceeds KUALA LUMPUR: A man was sentenced to one year imprisonment by the Sessions Court today after pleading guilty to transferring and concealing RM487,790 belonging to two women in connection with a fraudulent investment scheme advertised on Facebook last year. Judge Azrul Darus sentenced Marchell Jeff Lee Sin Ket, 39, to one year in prison for assisting in concealing RM314,790 belonging to Ong Boon Ian, 59, an investment company owner, in his bank account at a condominium unit in Bandar Menjalara, Sentul, between Nov 18 and Dec 12 last year. Advertisement Separately, before Judge Hamidah Mohamed Deril, he was sentenced to eight months imprisonment for concealing RM173,000 belonging to Chin Lit Teng, 49, a health products company account executive, in his bank account at a condominium unit off Jalan Kuching, Taman Sri Kuching, Sentul, between Nov 7 and Dec 9 last year. He was charged under Section 424 of the Penal Code, which carries a maximum sentence of five years imprisonment, a fine, or both upon conviction. Both sentences are to run concurrently from today. SPONSORED CONTENT According to the statement of facts, the victim had come across a stock investment advertisement while browsing Facebook and proceeded to register for the purported investment scheme. Subsequently, the victim transferred funds in stages into a bank account under the name Marchell Jeff Interior Design Haus Sdn Bhd. The scheme was later discovered to be fraudulent when the promised returns failed to materialise. Advertisement Deputy public prosecutors M Saravanan and Raihanah Abd Razak appeared for the prosecution, while Lee was unrepresented.
Sinar Daily
05-06-2025
- Sinar Daily
Homeless man sentenced to a year's jail for hiding over RM480,000 cash
The sentence was handed down to Marchell Jeff Lee Sin Ket, 39, after he pleaded guilty to two charges before judges Azrul Darus and Hamidah Mat Deril. A homeless man was sentenced to one year in prison by two Sessions Courts here today for hiding more than RM480,000 in cash belonging to two women, last year. KUALA LUMPUR – A homeless man was sentenced to one year in prison by two Sessions Courts here today for hiding more than RM480,000 in cash belonging to two women, last year. The sentence was handed down to Marchell Jeff Lee Sin Ket, 39, after he pleaded guilty to two charges before judges Azrul Darus and Hamidah Mat Deril. Azrul sentenced the accused to a year's jail on the first count while Hamidah sentenced him to eight months jail for the second count. Both courts ordered the jail term to run from today. A homeless man was sentenced to one year in prison by two Sessions Courts here today for hiding more than RM480,000 in cash belonging to two women, last year. According to the first charge, Lee was accused of helping to conceal RM314,790 belonging to a 59-year-old investment company owner, which he knew did not belong to him and was used for fraudulent purposes at a condominium unit in Sentul between Nov 18, 2024 and Dec 12, the same year. For the second charge, he was accused of transferring or concealing RM173,000 belonging to a 49-year-old health product company accounts executive at another condominium unit in Sentul, between Nov 7 and Dec 9, the same year. Both charges were framed under Section 424 of the Penal Code, which carries a maximum sentence of five years' imprisonment, or a fine, or both, upon conviction. Deputy public prosecutors M. Saravanan and Raihanah Abd Razak handled the prosecution while the accused was unrepresented.
Barnama
13-05-2025
- Barnama
Pahang KPDN Seizes Vessel, 200,000 Litres Of Subsidised Diesel
PEKAN, May 13 (Bernama) -- The Pahang Ministry of Domestic Trade and Cost of Living (KPDN) arrested four foreign men and seized 200,000 litres of subsidised diesel, along with a ship to the total value in confiscation of RM565,000 under Ops Tiris at a jetty in Kuala Pahang here on Sunday. Its director, Jezlily Jamaluddin said the operation was carried out after they received intelligence from police regarding a ship that was anchored under suspicious circumstances. 'In an inspection, the ship's captain failed to present valid documents from the Controller of Supplies regarding ownership of the diesel oil transaction carried on board. 'Further inspection found that there were eight tank compartments on the ship containing a yellow liquid suspected to be subsidised diesel fuel," he said at a press conference here today. He said the diesel was estimated to be worth RM480,000, while the ship, which is registered under a private company in the country, is worth RM85,000. 'According to skipper, the vessel was forced to dock due to damage. He also stated that the diesel fuel being transported was used for ship repairs and was to be distributed to 30 other ships owned by a company based in Miri, Sarawak,' he said. Jezlily mentioned that due to this, the captain and three crew members, all foreign nationals in their 30s, were detained for further investigation under the Control of Supplies Act 1961. "We believe the ship has been docked here for two months and there has been a transfer of diesel fuel from the ship to tanker trucks. Meanwhile, the diesel fuel inside the ship is suspected to have been obtained from various shipyard locations,' he also said. He emphasised that any possession and distribution of controlled goods such as diesel without a valid licence is a serious offence and the authorities will continue taking strict action under the 'Kita Gempur' initiative.'
