01/08/2025

FRIDAY | AUG 1, 2025

15

BIZ & FINANCE

AmFIRST REIT posts improved Q1 results

o Buoyed by higher rental, carpark income, new leases, lower costs and one-off compensation

45.4% to RM5.1 million, compared to RM3.5 million in the same quarter of the previous financial year. Looking ahead, the manager aims to further enhance the performance of the trust’s asset portfolio by driving revenue growth and optimising operational costs, to increase the asset portfolio’s yield for higher income distribution to the unitholders. Barring any unforeseen circumstances, the manager remains cautiously optimistic that the trust will deliver improved performance for the remainder of the financial year, supported by higher occupancy rates and ongoing operational efficiencies.

decline of 0.5% compared to the corresponding period of last financial year, supported by lower average cost of borrowings. The recent 25 basis points cut in the overnight policy rate by Bank Negara Malaysia is expected to further reduce interest expenses. With 67% of the trust’s borrowings are subject to floating rates, it is estimating the interest saving of approximately RM1.3 million per annum from every 25 basis points reduction in the cost of debt. This favourable rate environment expects to enhance the trust’s earning resilience. Overall, the realised net income from operations rose significantly by

and Wisma AmFIRST. It added that Prima 9 and Jaya 99 also saw gains, driven by multiple new tenancies secured during the period. These new leases have lifted overall committed portfolio occupancy by 4.1%, from 84.7% as at March 31, 2025, to 88.8% as at June 30, 2025 — supporting sustained rental income growth in the years ahead. Property expenses were slightly higher mainly due to higher repair and maintenance costs, as well as increase in assessment charges. However, this increase was partially mitigated by lower electricity expenses. Finance costs saw a marginal

PETALING JAYA: AmREIT Managers Sdn Bhd, the manager of AmFIRST Real Estate Investment Trust, reported improved financial performance for the first quarter of the current financial year, underpinned by higher rental income from improved portfolio occupancy and higher carpark income. Also, a one-off compensation received for waiver of reinstatement liability has also contributed to the improved gross revenue.

Key financial highlights for Q1’26 are gross revenue of RM27 million, up 7.6% quarter-on-quarter; net property income of RM16.2 million, an increase of 17.3% from the preceding quarter and realised earnings per unit of 0.75 sen per unit, up 47% quarter-on -quarter. In a statement yesterday, AmREIT said its portfolio occupancy continued to strengthen in the current quarter, with notable improvements at Menara AmBank

Petronas, Microsoft deepen ties to support Malaysia’s AI adoption, energy transition

Samaiden secures 3 bioenergy projects PETALING JAYA: Samaiden Group Bhd, a renewable energy (RE) specialist principally involved in developing and engineering, procurement, construction, and commissioning of RE systems and power plants, through its subsidiaries, has secured three bioenergy project awards under the Sustainable Energy Development Authority (Seda) Malaysia’s 2025 e-bidding mechanism. These projects, located in Johor, Terengganu, and Kelantan, will add over 18 megawatts (MW) of biomass and biogas capacity to Samaiden’s portfolio, further strengthening its position in Malaysia’s RE sector. The approved projects include two biomass power plants located in Tangkak, Johor and Kemaman, Terengganu respectively, and a biogas power plant in Bachok, Kelantan. Each project was awarded a 21-year Feed-in Tariff approval and are expected to begin commissioning from second half 2028. Group managing director Datuk Chow Pui Hee commented, “These awards mark a significant step forward in expanding our renewable energy portfolio beyond solar into biomass and biogas. The diversification strengthens our long-term earnings visibility, supports Malaysia’s decarbonisation agenda, and positions Samaiden as a comprehensive clean energy solutions provider. We are proud that our bids were successful in three different states, showcasing the depth of our technical capabilities and execution track record.”

KUALA LUMPUR: Petronas and Microsoft signed a MoU, further extending their strategic collaboration in multiple areas across innovation and sustainability to support the development of an artificial intelligence (AI)- enabled economy and ecosystem in Malaysia, while advancing efforts towards energy transition in Asia. At the signing ceremony held on the sidelines of Energy Asia 2025, Petronas was represented by its senior vice-president of projects (technology & health, safety, security & environment) Mohd Yusri Mohamed Yusof and vice-president of group technology & commercialisation Izwan Ismail. Microsoft Malaysia was represented by its managing director Laurence Si. At Petronas, Mohd Yusri said innovation goes beyond technology – it is about shaping a future where energy is smarter, cleaner, and sustainable for not only the organisations involved, but also the nation and its people. He added their collaboration with Microsoft is driven by a shared commitment to meaningful innovation and sustainable progress. “By harnessing our joint expertise in innovation and sustainability, we are steadfast in advancing adoption of AI and Cloud capabilities in a manner that promotes sustainable energy practices, in support of Malaysia’s aspirations of building an AI

Mohd Yusri delivering his opening remarks at the MoU signing ceremony. economy with a robust ecosystem in which everyone thrives,” he said.

advancement and societal benefit. With nation building at heart, the companies will support Malaysia’s efforts to build regional leadership in AI capabilities and develop a strong local AI ecosystem through joint programmes. Under the collaboration, Petronas and Microsoft will explore further initiatives to intensify AI and energy innovation leveraging Microsoft’s newly launched Malaysia West cloud region.

Meanwhile Si said with Microsoft’s new cloud region in Malaysia, they are committed to supporting Petronas with secure, scalable, and sustainable cloud solutions that will drive growth and innovation in Malaysia’s energy sector. The collaboration will focus on fostering an ecosystem in Malaysia that enables organisations to harness AI’s potential for economic

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