KUALA LUMPUR, April 17, 2013 – Al-Hadharah Boustead REIT (Al-Hadharah REIT) held its inaugural Annual General Meeting for its FY2012 today. Shareholders were briefed on its performance during the financial year and prospects ahead.
For its recently concluded financial year, the Fund registered a profit after tax of RM92 million while earnings during the year were impacted due to CPO prices.
YBhg Tan Sri Dato’ Seri Lodin Wok Kamaruddin, Chairman of Al-Hadharah REIT said after the meeting, “Although we foresee a challenging year ahead, unit holders are assured that their investments are backed by strong portfolio of assets. In addition, our asset base is strong with valuations in excess of RM1.3 billion. We have consistently focused on delivering shareholder value and towards this end total distribution for the financial year was 10 sen per unit representing a 5.5% dividend yield based on the closing price for the financial year. Investors will find in us a safe haven in terms of dividend yield and steady capital appreciation.”
“Whilst our revenue recorded a decline, we managed to maintain our position as Malaysia’s only Islamic Plantation Real Estate Investment Trust in 2012. At the close of 2012, we have 12 oil palm plantations and 3 palm oil mills with a combined area of 20,000 hectares,” he added.
The Fund achieved a sterling market capitalisation of RM1.1 billion at the close of the financial year with a market price of RM1.83, a significant increase of 12% compared with the previous 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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