AIMS APAC REIT’s 2H FY24 Result Review
By REIT-TIREMENT  •  May 14, 2024
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Basic Profile & Key Statistics

Key Indicators

Performance Highlight
Gross revenue and NPI saw a YoY uptick, driven by increased rentals and recoveries. Despite this, distributions to unitholders remained steady, as management opted to receive more management fees in cash. Meanwhile, DPU faced a notable decline, impacted by the enlarged unitholder base from the mid-2023 equity fundraising.

Rental Reversion
Rental reversion for 4Q and FY is at 31.7% and 24.3% respectively.

Asset Enhancement Initiatives
There are 2 ongoing AEIs, which are expected to commence lease by Q1 FY26 and Q3 FY 25 respectively.

Related Parties Shareholding

The REIT manner and directors of the REIT manager hold a relatively high proportion of shares, while the REIT sponsor holds a relatively low proportion.

Lease Profile

The WALE is long and the lease expiry is well spread. However, the weighted average land lease expiry is short.

Debt Profile

The gearing ratio is low. However, the adjusted interest coverage ratio and unsecured debt proportion are also low.
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I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...

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