AME REIT

Deschis pentru aplicare: 17
Aproape de aplicare: 24
Votare: 01
Data afisarii: 20/09/2022

Capitalul social
Market cap: RM mil 
Total Shares: 520 mil units
 
Industry CARG (2016-2021)
Msia Indutry properties rental income CAGR: 11.59% (data from 
Competitors distribution yield
Alsreit: 4.74% (PE104.48, below IPO price RM1.00)
Atrium: 6.5% (PE17.39, above IPO price @ IPO RM1.02)
Axreit: 4.89% (PE14.16, above IPO price @ RM1.25)
AME reit: 5.67% (PE19.33, yield estimated @ pg28) 

Afaceri (FYE 2022)
Reit Structure: At least 75% total asset must invested in real estate to generate recurrent rental income. 
Financial Limitation: Maximum allow up to 50% for financing.
31 Industrial Properties (Freehold)
3 Industrial-Related Properties (Freehold)
Occupancy Rate: 100%

Fundamental
1.Piata: piata principala
2.Price: RM1.15 (refund will make if final institutional price lower than RM1.15)
3.P/E: 19.33 @ RM0.0595 (pg28)
4.ROE(Pro Forma III): 5.23%
5.NA după IPO: 0.99 RM
6. Datoria totală față de activul curent după IPO: 0.369 (Datoria: 47.5 milioane, Activ necurrent: 557 milioane, Activ curent: 17.549 milioane)
7.Dividend policy: 90% of nett income distribute quartely basic. 
8.Syariah Status: Yes (Islamic Reit)

Performanța financiară trecută (venit, câștig pe acțiune)
2022 (FPE 31Mar): RM35.236 mil (Eps: 0.0518)
2021 (FYE 31Mar): RM28.653 mil (Eps: 0.0377)
2020 (FYE 31Mar): RM26.870 mil (Eps: 0.0392)
 
Acţionari majori
Lee Sai Boon: 51.3% (indirect)
Lee Chai: 51.3% (indirect)
Lim Yook Kim: 51.3% (indirect)
Kang Ah Chee: 51.3% (indirect)

Management Fees & Trustee’s fees FYE2023 (compare to Rental income)
Management Fees: RM3.573 mil
Trustee’s fee: RM0.175 mil
total (max): 3.748 mil RM sau 9.14% 

Concluzii (Blogger nu a scris nicio recomandare și sugestie. Totul este o opinie personală și cititorul ar trebui să-și asume propriul risc în decizia de investiție)
Overall the Reit is a bit expensive reit. After listing, might have chance to collect below IPO price.