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Real estate industry

AmanahRaya REIT Embarks on Strategic Transformation for Sustainable Growth

Strategic Insights

— 1 min read

AmanahRaya Real Estate Investment Trust (REIT) is undergoing a comprehensive transformation to strengthen its foundation for long-term growth. Over the past year, the company has focused on five key initiatives: governance, sustainable business growth, people, systems, and financial management. While the transformation has had an impact on the company's financial year 2024 performance, AmanahRaya REIT remains resilient, supported by a diversified portfolio and proactive asset enhancement initiatives. The company is committed to improving value creation for its unit holders through sustainable initiatives and operational excellence.

Key Takeaways:

  • AmanahRaya REIT is undergoing a comprehensive strategic transformation to strengthen its foundation for long-term growth, focusing on governance, sustainable business growth, people, systems, and financial management.
  • The transformation has resulted in a variance of more than 10% between the unaudited and audited profit after tax figures for the financial year ended Dec 31, 2024.
  • AmanahRaya REIT reported a profit-after-tax of RM1.8 million in the audited financial statements, compared with RM4.98 million in the unaudited results announced on Feb 28, 2024.
  • The company's commitment to improving value creation for unit holders is reflected in proactive asset management, sustainable initiatives, and operational excellence.
  • AmanahRaya REIT has a diversified portfolio, proactive tenant engagement, and ongoing asset enhancement initiatives aimed at ensuring sustainable returns for stakeholders.
  • The board of directors of AmanahRaya REIT Manager Sdn Bhd (AKRM) has clarified the variance in profit after tax figures in compliance with Bursa Malaysia's Main Market Listing Requirements.

Statistics:

  • Variance in profit after tax figures: more than 10%
  • Unaudited profit after tax (Feb 28, 2024): RM4.98 million
  • Audited profit after tax (Dec 31, 2024): RM1.8 million
  • Profit after tax difference: RM3.18 million
  • Financial year: 2024
  • Bursa Malaysia Main Market Listing Requirements: referred to in paragraph 9.19(35)

Sources:

  • AmanahRaya REIT statement (no date mentioned)
  • Interview with AKRM managing director Mohd Iskandar Dzulkarnain
  • Bursa Malaysia Main Market Listing Requirements

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