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PETALING JAYA (April 22): AME Real Estate Investment Trust (AME REIT) has closed its financial year ended March 31, 2026 on a strong footing, recording a total revaluation surplus of approximately RM86.04 million across its 40 industrial properties and three industrial-related properties, lifting its net asset value (NAV) per unit to RM1.2612 from RM1.1183 a year ago, according to its Bursa Malaysia announcements today (April 22).
Portfolio revaluation
The annual revaluation — conducted by Savills (Malaysia) Sdn Bhd, First Pacific Valuers Property Consultants Sdn Bhd and CBRE WTW Valuation & Advisory Sdn Bhd — valued AME REIT's 40 investment properties at a combined RM956.1 million, up from a carrying value of RM874.0 million, generating a revaluation surplus of RM82.07 million.
A further RM3.97 million surplus was attributed to three properties (i-Park SILC 3, 4 and 6) classified as assets held for sale, bringing the total to RM86.04 million.
The standout gain was at i-Park SAC 1A1 (RM5 million surplus), i-Park Indahpura 14 (RM5.1 million), i-Park Indahpura 15 (RM4.1 million), Dorm 2 Indahpura (RM4.8 million), Dorm 1 Indahpura (RM4 million) and i-TechValley 34 (RM7.39 million — the largest single-asset uplift in the portfolio). All 40 properties recorded positive revaluation, except i-Park Indahpura 21 which was maintained at carrying value.
FY2026 full-year financial results
For the full financial year ended March 31, 2026, AME REIT recorded:
1) Total revenue: RM62.33 million (+22.4% y-o-y from RM50.90 million)
2) Net property income (NPI): RM56.44 million (+21.5% y-o-y from RM46.44 million)
3) Distributable income: RM44.30 million (+13.0% y-o-y from RM39.20 million)
4) Full-year DPU: 8.34 sen (+12.2% y-o-y from 7.43 sen)
Growth was driven by contributions from four newly acquired properties during FY2026 — i-TechValley 34 (completed July 2025), i-TechValley 35 and 36 (completed July and October 2025) and i-Park SAC 60 & 61 (completed December 2025) — as well as positive rental reversions across the portfolio's 100% committed occupancy rate.
4QFY2026 quarter results
For the quarter ended March 31, 2026, AME REIT posted revenue of RM16.49 million (+26.2% y-o-y), NPI of RM14.94 million (+28.9% y-o-y) and distributable income of RM11.52 million (+19.4% y-o-y).
Net income surged to RM88.21 million for the quarter, largely boosted by the RM87.07 million unrealised fair value gain on investment properties.
Income distribution
The manager has declared a final income distribution of 2.16 sen per unit (1.39 sen taxable, 0.77 sen non-taxable) for the quarter, payable on May 28, 2026 to unitholders on record as at May 8, 2026.
This brings total FY2026 DPU to 8.34 sen, representing a distribution of 99.93% of AME REIT's distributable income.
Portfolio and pipeline
As at March 31, 2026, AME REIT's total assets stood at RM1.015 billion, crossing the RM1 billion mark for the first time.
The fund has remaining capital commitments of RM38.51 million for contracted investment property acquisitions — down sharply from RM139.9 million a year ago — indicating most of the recent acquisition pipeline has been completed.
The proposed disposal of i-Park SILC 3, 4 and 6 for RM14.47 million (a 44.7% gain over original cost) remains pending completion.
I REIT Managers Sdn Bhd, the manager of AME REIT, said it is optimistic of achieving a favourable performance for FY2027, anchored by the 100% portfolio occupancy and Johor's continued industrial property demand driven by the Johor-Singapore Special Economic Zone (JS-SEZ).
Editor's note: Based on unaudited quarterly and full-year financial results, revaluation announcement and income distribution notice filed by AME Real Estate Investment Trust on Bursa Malaysia today (April 22). Figures have not been audited. This article is for informational purposes only and does not constitute financial or investment advice.
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