Am ARA REIT manages AmFIRST Real Estate Investment Trust.
Chief executive officer Lim Yoon Peng attributed the better performance to prudent cost management, active asset management strategies and six well-located assets.
The company has proposed a final income distribution of 4.88 sen per unit for the six-month period from Oct 1, 2009 to March 31.
In a statement yesterday, Lim said the company, with its enhancement programmes, would position the properties to remain competitive in the market and increase the current occupancy levels.
Meanwhile, the revaluation exercise on all its six properties in the final quarter of FY10 has been completed.
Based on the unaudited results as at March 31, the net asset value per unit of AmFIRST REIT (after provision for distribution) will be RM1.35 upon incorporation of the revaluation surplus of RM12.14mil.
By Bernama
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