KUALA LUMPUR (Oct 21): AME Real Estate Investment Trust's (KL:AMEREIT) second-quarter net property income (NPI) increased by 11.4%, driven by higher rental income and contributions from newly acquired properties.

NPI rose to RM16 million in the second quarter ended Sept 30, 2026 (2QFY2027), from RM14.36 million a year earlier. Revenue for the quarter increased 11.9% to RM17.55 million from RM15.68 million.

According to its bourse filing, the trust also recorded an unrealised fair value gain of RM5.05 million on investment properties during the quarter.

AME’s net income for the quarter grew 56.7% to RM15.2 million from RM9.7 million a year ago. After adjustments for the fair value gain net of deferred tax expenses, unbilled lease income receivables and non-cash items, distributable income stood at RM11.7 million.

AME REIT said it would distribute 100% of its distributable income for 2QFY2027, equivalent to a distribution per unit (DPU) of 2.19 sen, amounting to RM11.7 million. The income distribution is payable on Nov 26.

For the first half of FY2027, the trust’s NPI rose 15.3% to RM31.24 million from RM27.1 million a year earlier, while revenue increased 14.7% to RM34.18 million from RM29.81 million.

AME REIT completed the RM50.2 million acquisition of three freehold industrial land parcels spanning 8.87 acres in i-Park @ Senai Airport City in Johor on Sept 23. The transaction, AME REIT’s first third-party acquisition, will support its build-to-lease strategy targeting established businesses seeking high-quality industrial facilities.

As at Sept 30, AME REIT’s portfolio comprises 44 investment properties including 38 industrial properties, three industrial-related assets and three industrial land parcels for development. The portfolio had a total investment property value of RM1.05 billion and a total asset value of RM1.1 billion.

Looking ahead, the trust’s established footprint in southern Johor positions it to capture industrial demand driven by the upcoming Johor-Singapore Special Economic Zone (JS-SEZ) and the Rapid Transit System (RTS), said I REIT Managers Sdn Bhd chief executive officer and executive director Chan Wai Leo in a statement.

“We will continue to evaluate high-quality industrial properties across Malaysia to generate consistent returns for our unitholders,” Chan said.

I REIT Managers is the management company of AME REIT.

AME REIT units closed unchanged at RM1.55 on Wednesday, giving the trust a market capitalisation of RM826.2 million.