Axis REIT Purchasing Property in Bukit Raja

News about Axis-REIT

Axis REIT has announced the acquisition of a 99 year leasehold property in Bukit Raja Industrial Area, comprising a double storey office building and two blocks of factory. Sold by the current occupant, Lion Steelworks, the transaction of RM37 million will be financed by debt and push the trust gearing ratio to 38.1%.

Axis-REIT
Price2.080 MYR
NAV1.438 MYR
Yield (4 quarters)4.33%
Gearing28.7%