KUALA LUMPUR: Al-Hadharah Boustead REIT, the country’s only Islamic plantation REIT, posted a slightly higher year-on-year (y-o-y) net profit of RM16.57 million for its second quarter (2Q) ended June 30, 2009. The fund had reported a net profit of RM16.33 million for the previous year’s corresponding quarter. </p></div>

<div class=newsTextDataWrapInner><p>Revenue was also rather flat, increasing by 1.7% y-o-y to RM17.8 million from RM17.5 million a year ago. </p></div>

<div class=newsTextDataWrapInner><p>According to Al-Hadharah, the decline in revenue was due to lower performance-based rental, which was the result of lower crude palm oil (CPO) prices, while the boost in net profit was due to a gain of RM6.5 million.   </p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The fund will distribute an interim dividend of 3.69 sen to unitholders, which will be paid on Aug 28.</p></div>

<div class=newsTextDataWrapInner><p>Chairman of Boustead REIT Managers Sdn Bhd Tan Sri Lodin Wok Kamaruddin said: “In current market conditions with strong volatility affecting CPO, we are heartened by our results. Furthermore, in the REIT segment of the capital markets in Malaysia, we offer discerning investors a positive defence against the volatility of unit prices in the REIT market as the Al-Hadharah REIT has remained strong since its listing.”</p></div>

<div class=newsTextDataWrapInner><p><br /><em>This article appeared in The Edge Financial Daily, July 24, 2009.</em>

KUALA LUMPUR: Al-Hadharah Boustead REIT, the country’s only Islamic plantation REIT, posted a slightly higher year-on-year (y-o-y) net profit of RM16.57 million for its second quarter (2Q) ended June 30, 2009. The fund had reported a net profit of RM16.33 million for the previous year’s corresponding quarter. 

Revenue was also rather flat, increasing by 1.7% y-o-y to RM17.8 million from RM17.5 million a year ago. 

According to Al-Hadharah, the decline in revenue was due to lower performance-based rental, which was the result of lower crude palm oil (CPO) prices, while the boost in net profit was due to a gain of RM6.5 million.   

The fund will distribute an interim dividend of 3.69 sen to unitholders, which will be paid on Aug 28.

Chairman of Boustead REIT Managers Sdn Bhd Tan Sri Lodin Wok Kamaruddin said: “In current market conditions with strong volatility affecting CPO, we are heartened by our results. Furthermore, in the REIT segment of the capital markets in Malaysia, we offer discerning investors a positive defence against the volatility of unit prices in the REIT market as the Al-Hadharah REIT has remained strong since its listing.”

This article appeared in The Edge Financial Daily, July 24, 2009.

Al-Hadharah Boustead REIT’s profit slightly higher

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.

High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

MOF: Meeting with 70 fund investors highlights Madani govt’s action to spur strategic investments

In today’s edition of Evening 5: 00:00 MYAirline loses licence to operate 01:41 New developments, new board to be announced for DNB 02:59 Fernandes to be CEO of Capital A for five more years 04:09 ACE Market-bound Farm Price eyes Singapore expansion05:33 Suria KLCC shrugs off the competition

EVENING 5: MYAirline runs out of time, loses licence to operate

The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.

Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

EVENING 5: Five things you need to know today

The Nasdaq outpaced Wall Street peers on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.

Nasdaq outshines Wall Street peers on tech boost, earnings glee 

BERLIN (April 24): Germany said on Wednesday that it plans to resume cooperation with the United Nations agency for Palestinian refugees (UNRWA), signalling a resumption of funding that was frozen after Israel accused 12 UNRWA staff of participating in the Hamas-led Oct 7, 2023 attack.

Germany signals it will resume funding UN agency for Palestinians

Hasbro reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates on Wednesday, helped by leaner inventories and steady digital gaming revenue, sending its shares up 12%in early trading.

Toymaker Hasbro's turnaround efforts help first-quarter profit beat

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 24)

<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.</p>


AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

<p>Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.</p>

<p>The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.</p>


Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

<p>Malaysian automotive companies may see earnings decline this year as sales dip and operating costs rise amid the emergence of several Chinese brands offering attractive pricing, analysts cautioned.</p>


M'sian automakers expected to feel pinch from lower sales, higher costs, and rise of Chinese OEMs

<p>JASMINE Loo was the third individual wanted by the authorities, on the Interpol Red Notice list, &nbsp;to return to Malaysia.</p>

<p>More than 10 years on from the first signs of trouble at 1Malaysia Development Bhd (1MDB), there are still a number of individuals who remain on the run, sought ...

Most yet to return to face the music

<p>The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.</p>


MYAirline loses licence to operate as commercial airline as CAAM revokes AOC

<p>Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.</p>


Carlsberg Malaysia raises prices of beers to preserve margin

<p>French electronic manufacturing service firm eolane has launched a new manufacturing plant in Kulim Hi-Tech Park, Kedah involving an investment of €8.7 million (RM45 million) for the first phase of the project.</p>


France-based eolane launches RM45 mil facility in Kulim Hi-Tech Park

<p>One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.</p>


Malaysia to start using QR code at checkpoints with Singapore, report says

<p>Chin Hin Group Property Bhd said on Wednesday it had signed two agreements to develop two separate residential projects in Kuala Lumpur worth RM1.08 billion in combined gross development value (GDV).&nbsp;</p>


Chin Hin Group Property to develop two residential projects worth RM1.08 bil

<p>Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;</p>


Telco shares lift Bursa higher at midday

<p>Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.</p>


Fernandes to be CEO of Capital A for another five years

<p>Bursa Malaysia closed at a two-year high on Wednesday with the key index rising 0.63%, driven by a positive outlook on the local bourse and amid an upbeat performance by regional peers.&nbsp;</p>


Bursa races to two-year high as investors turn bullish

<p>Tan Sri Muhammad Ikmal Opat Abdullah, founder and controlling shareholder of Widad Group Bhd, has continued to trim his stake in the construction company as well as in IT products and services firm Dataprep Holdings Bhd.</p>


Muhammad Ikmal continues to trim stake in loss-making Widad, Dataprep 

<p>OYO plans to add 100 self-operated hotels in Malaysia in 2024 and will be looking to secure annual to long-term management contracts on a revenue-sharing basis for these properties. This is part of OYO's programme aimed at fostering economic growth in communities via partnerships.&nbsp;</p>


OYO plans to launch 100 self-operated hotels in Malaysia for 2024, with the first in Kota Damansara

<p>The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.</p>


MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

<p>Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.</p>


Gold’s record-setting rally may have its roots in Chinese frenzy

<p>Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.</p>


Digital minister to unveil DNB board, announce new developments tomorrow — Fahmi

<p>Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.</p>


Haily shares near all-time high after securing RM109.5m housing job

<p>Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.</p>
