AmFIRST REIT is a Malaysian commercial REIT with a portfolio of nine properties located in Klang Valley, Cyberjaya, Melaka, and Penang. As at 31 March 2017, its total net lettable space is 2.9 million square feet (excluding Summit Hotel). In 2016, AmFIRST REIT disposed the Ambank Group Leadership Centre (AGLC) to generate a one-off gain of RM12.2 million. AmFIRST REIT’s average annual return since its listing in 2006 is 6.02%.

2016 was a significant year for AmFIRST as it marked its 10th anniversary of listing on Bursa Malaysia. However, 2017 was another challenging year for AmFIRST due to an oversupply of office space and more competitive rental fees within the Klang Valley region. According to a Knight Frank market report, the cumulative supply stands at 51.0 million square feet with an impending supply of 11.7 million square feet in 2017 and 2018. Average rental …