KUALA LUMPUR, January 30, 2013 – Al-Hadharah Boustead REIT (Al-Hadharah REIT), recorded a profit after tax of (PAT) of RM28 million for the fourth quarter ended 31 December 2012. This was achieved on the back of a turnover of RM17 million for the quarter under review. Cumulatively, for its full year results ended 31 December 2012, the Fund’s PAT was RM92 million. Revenue for the year was RM91 million compared with RM100 million for the previous financial year.
YBhg Tan Sri Dato’ Seri Lodin Wok Kamaruddin, Chairman of Al-Hadharah Boustead REIT said, “Our earnings were impacted this year due to the adverse external economic pressures along with volatile crude palm oil prices. The year 2013 is expected to be challenging for us. However, we remain committed in exploring growth prospects while we focus on improving unitholder value.”
In line with its commitment in providing returns to its unitholders, the Board of Directors has declared a final dividend of 5.5 sen bringing total dividend for the year to 10 sen. At the close of the financial year, the Fund’s market capitalisation grew to RM1.1 billion compared with RM965.4 million in the previous year.”
The REIT’s unit price for the period under review closed at RM1.83 per unit on 31 December 2012, with the highest price recorded at RM2.16 in the month of August. Up till now, the Fund’s unit price has eased and traded in line with its net asset value at the close of the financial year.
Forward looking statements
This release may contain certain forward-looking statements with respect to the financial conditions, results of operations and business of the Fund and certain plans and objectives of Al-Hadharah Boustead REIT with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
Issued on behalf of: Al-Hadharah Boustead REIT
By: acorn communications sdn bhd
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