COVID–19 NEWS   Owners of premises in buildings allowed to determine protocol on wearing of face mask at their venue - Johor Exco | Italy greenlights Omicron-adapted COVID-19 booster shots | New COVID-19 cases down 16.9 pct last week | Japan to simplify COVID-19 airport quarantine procedures | EMA endorses Omicron-adapted COVID-19 vaccines | 

Axis-REIT to acquire industrial facility in Meru for RM41.0 mln

23/09/2022 07:41 PM

KUALA LUMPUR, Sept 23 (Bernama) -- Axis Real Estate Investment Trust’s (Axis-REIT) trustee, RHB Trustees Bhd has entered into a sale and purchase agreement to acquire an industrial facility from Jemaramas Jaya Sdn Bhd for a cash consideration of RM41.0 million.

The industrial facility comprises a three-storey annexed office building and two warehouses with gross flor area totalling 17,932 square meters (193,015 square feet) on 24,952 sq m (2.50 hectares) of freehold land in the industrial area of Meru, Klang, a statement from Axis-REIT said today.

Jemaramas Jaya is in the business of manufacturing, marketing and selling systems furniture. It is wholly owned by Versalink Holdings Ltd, which is listed Singapore Exchange's Catalist board.

Axis REIT Managers Bhd chief executive officer/ executive director Leong Kit May said the company will continue to grow their portfolio with acquisitions to deliver returns to unitholders.

“For the current financial year-to-date, Axis-REIT’s has completed acquisitions amounted to RM438.3 million.

"With the targeted completion of this property by the close of the year, we are pleased to add on another industrial facility that is strategically located within the Klang Valley to our existing portfolio of 61 assets,” she said.

The proposed acquisition is targeted to be completed by the fourth quarter of 2022 and the said facility will be leased back to Jemaramas Jaya Sdn Bhd for three years.

The acquisition will be funded by existing bank financing.

This will increase Axis-REIT’s financing ratio to 31.59 per cent of audited total assets as at Dec 31, 2021,  below the 50 per cent gearing limit prescribed by the Securities Commission Malaysia's guidelines on listed real estate investment trusts," the statement said.




Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter :, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy