K

ALSREIT

MY flagMY flag

Al-salam Real Estate Investment Trust

Data Chart Belum Tersedia

Company Background

imageProfile
Potential Junk
Potential Spam

$ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST)
Research Report by MAYBANK

imageProfile
Potential Junk
Potential Spam

$ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST)
Research by Maybank
Hold - TP RM0.41

"2Q24: Shortfall"

1H24 realised earnings of MYR3m was below our expectation of MYR8m for FY24E. A 2nd interim gross DPU of 0.17sen (1H24: 0.47sen) was declared. We maintain our forecasts pending an update with management. Our unchanged TP of MYR0.41 is based on DDM. Maintain HOLD. The rejuvenation of KOMTAR JBCC remains a key re-rating catalyst for Al-Salam. For retail REIT, we prefer Pavilion REIT (PREIT MK, CP: MYR1.40, BUY, TP: MYR1.55).

Analyst:
Nur Farah Syifaa
nurfarahsyifaa.mohamadfuad@maybank-ib.com

Read more...
imageProfile
Potential Junk
Potential Spam

$ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST)
Research by Maybank
Hold – TP of MYR 0.41

“1Q24 missed estimates”

1Q24 results and 1st interim gross DPU of 0.3 sen missed our estimates mainly attributed to higher finance cost. We lower FY24/25/26E net profit by 34%/11%/11%. Our DDM-TP is lowered by 4sen to MYR0.41 (Ke: 9.9%). For retail REIT, we prefer Pavilion REIT (PREIT MK, CP: MYR1.36, BUY, TP: MYR1.55).

Analyst(s):
Nur Farah Syifaa
nurfarahsyifaa.mohamadfuad@maybank-ib.com

Read more...
imageProfile
Potential Junk
Potential Spam

ALSREIT - Notice of Book Closure

imageProfile
Potential Junk
Potential Spam
imageProfile
Potential Junk
Potential Spam

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

imageProfile
Potential Junk
Potential Spam

Which company hurt the most from the closure of KFC?

The closure of KFC has had a significant impact on $ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST), with the latest quarterly report indicating that F&B restaurants contribute approximately 34% of net property income. Within the REIT portfolio, all F&B restaurants are either Pizza Hut or KFC outlets, primarily due to their common major shareholder, JCORP. Consequently, the closure of KFC could have a notable impact on the net property income for FY2024. Given that Pizza Hut also under boycott lists.

Asset of $ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST): https://cutt.ly/BeqJJfaq

Read more...
imageProfile
Potential Junk
Potential Spam

OTHERSAl Salam Real Estate Investment Trust ("Al-Salam") -Press Release

imageProfile
Potential Junk
Potential Spam

General Meetings: Outcome of Meeting

imageProfile
Potential Junk
Potential Spam

General Meetings: Notice of Meeting (Amended Announcement)

imageProfile
Potential Junk
Potential Spam

NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

imageProfile
Potential Junk
Potential Spam

CIRCULAR TO UNITHOLDERS OF AL-SALAM REAL ESTATE INVESTMENT TRUST ("AL-SALAM") IN RELATION TO THE PROPOSED RENEWAL OF UNITHOLDERS MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE

imageProfile
Potential Junk
Potential Spam

General Meetings: Notice of Meeting

imageProfile
Potential Junk
Potential Spam

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONSAL-SALAM REAL ESTATE INVESTMENT TRUST ("AL-SALAM")

PROPOSED RENEWAL OF UNITHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE ("PROPOSED RRPT MANDATE")

imageProfile
Potential Junk
Potential Spam

OTHERSAl - Salam Real Estate Investment Trust (Al-Salam)

Revaluation of Investment Properties pursuant to Paragraph 10.02 (b)(i) of the Guidelines on Listed Real Estate Investment Trusts (Listed REIT Guidelines) issued by the Securities Commission Malaysia (SC).

imageProfile
Potential Junk
Potential Spam

Annual Report & CG Report - 2023

imageProfile
Potential Junk
Potential Spam

$ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST)
Research by Maybank
Hold - TP of MYR0.45

"4Q23 earnings in line"

FY23 results were within expectation at 101% of our estimate. We adjust FY24/25E net profit by +1%/-2%, but maintain our DDM-TP of MYR0.45 (Ke: 9.9%, LTG: 1%). Maintain HOLD. For retail REIT, we prefer Pavilion REIT (PREIT MK, CP: MYR1.34, BUY, TP: MYR1.47).

Analyst(s):
Nur Farah Syifaa
nurfarahsyifaa.mohamadfuad@maybank-ib.com

imageProfile
Potential Junk
Potential Spam

Quarterly rpt on consolidated results for the financial period ended 31/12/2023

imageProfile
Potential Junk
Potential Spam

NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE

imageProfile
Potential Junk
Potential Spam

ALSREIT - Notice of Book Closure

imageProfile
Potential Junk
Potential Spam
imageProfile
Potential Junk
Potential Spam

Change in Boardroom - DATO SALEHUDDIN BIN HASSAN

imageProfile
Potential Junk
Potential Spam

OTHERSCHANGE IN COMPOSITION OF BOARD COMMITTEES

imageProfile
Potential Junk
Potential Spam

Change in Boardroom - DATO' WAN KAMARUZAMAN BIN WAN AHMAD

imageProfile
Potential Junk
Potential Spam

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - DAMANSARA ASSETS SDN BERHAD

imageProfile
Potential Junk
Potential Spam

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - JOHOR CORPORATION

imageProfile
Potential Junk
Potential Spam

$ALSREIT / 5269 (AL-SALAM REAL ESTATE INVESTMENT TRUST)
Research by Maybank
Hold – Target Price RM0.45

“3Q23 earnings fell short”

9M23 core earnings and 3rd interim gross DPU of 0.3sen (YTD: 1.10sen) fell short, the former at only 58% of our FY23E. The discrepancy was mainly due to lower-than-expected contribution at KOMTAR JBCC. We lower FY23/24/25E net profit by -26%/-37%/-1% and DDM-TP by 1sen to MYR0.45 (Ke: 9.9%, LTG: 1%). Maintain HOLD. For retail REIT, we prefer Pavilion REIT (PREIT MK, CP: MYR1.21, BUY, TP: MYR1.41).

Analyst:
Nur Farah Syifaa
nurfarahsyifaa.mohamadfuad@maybank-ib.com

Read more...
imageProfile
Potential Junk
Potential Spam

ALSREIT - Notice of Book Closure

imageProfile
Potential Junk
Potential Spam

Quarterly rpt on consolidated results for the financial period ended 30/09/2023

imageProfile
Potential Junk
Potential Spam
2013-2025 Stockbit ·About·ContactHelp·House Rules·Terms·Privacy