Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Thursday, August 12, 2010

AmFIRST posts 6.17% revenue growth in Q1

KUALA LUMPUR: AmFIRST Real Estate Investment Trust has registered a revenue of RM25.11mil for its first quarter ended June 30, 2010, up by 6.17% from RM23.65mil in the same quarter last year.

Its net property income rose 15.94% to RM17.66mil from RM15.23mil previously.

However, the company’s income after tax declined marginally to RM9.94mil from RM10.58mil previously due to higher interest expense that resulted from the overnight policy rate (OPR) hike and provision for doubtful debt, AmFIRST said in a filing to Bursa Malaysia yesterday.

“Despite a marginal slip in income after tax for the first quarter period, we are pleased to report a positive start to the year with a fair performance of all six AmFIRST’s assets,” said Lim Yoon Peng, chief executive officer of Am ARA REIT Managers Sdn Bhd, the manager of AmFIRST.

By Bernama

No comments: