AmFirst REIT posts RM6.6 million profit in first quarter
AmFirst Real Estate Investment Trust (AmFirst REIT) began FY2027 on a high note, reporting a 102.8 per cent jump in net profit to RM6.6 million for the quarter ended 30 June 2026, double the RM3.3 million recorded in…
Source: Kosmo! · August 17, 2026 at 8:31 AM · AI-assisted report
Corroborated
KUALA LUMPUR, 17 AUGUST 2026 —
AmFirst Real Estate Investment Trust (AmFirst REIT) began FY2027 on a high note, reporting a 102.8 per cent jump in net profit to RM6.6 million for the quarter ended 30 June 2026, double the RM3.3 million recorded in the same period last year.
Market Impact
The rise in earnings is driven by a 10 per cent increase in operating income to RM27.2 million, and a 10 per cent lift in net operating revenue to RM5.6 million. “The encouraging performance is mainly due to a rise in the overall occupancy rate of the portfolio to 88.3 per cent from 83.1 per cent last year, supported by stronger uptake in several locations,” said AmREIT Managers Sdn. Bhd., the trustee of AmFirst REIT.
Higher occupancy translated directly into stronger rental income, boosted parking revenues and better contributions from the co‑working space arm. Cost discipline also played a role: depreciation fell 1.9 per cent to RM11.4 million, aided by lower repair and maintenance outlays, tenant‑recovered electricity costs and a one‑off rebate from Tenaga Nasional Berhad.
Finance costs dipped 3.3 per cent to RM8.0 million, as the average borrowing rate fell to 4.09 per cent from 4.32 per cent a year earlier.
AmFirst REIT’s performance came without the RM1.7 million one‑off compensation that appeared in the prior year’s quarter, and without the temporary closure of The Summit Hotel for rebranding and extensive refurbishment. The trustee noted that the hotel’s reopening is expected to further lift occupancy in the coming months.
For Malaysian investors, the results reinforce the resilience of the hospitality‑focused REIT sector. The 88.3 per cent occupancy places AmFirst among the top performers in the Kuala Lumpur‑based property market, where the average hotel occupancy hovered around 82 per cent in the same period. The stronger occupancy also suggests that discretionary spending on travel and business events is recovering, which could benefit other hotel REITs and related service providers.
Looking ahead, AmFirst REIT aims to maintain its occupancy momentum while managing costs. The trustee highlighted plans to optimise the co‑working space portfolio and to accelerate the re‑branding of The Summit Hotel, which is projected to lift rental yields further. With a stable borrowing cost and a disciplined expense base, the REIT is positioned to sustain its profitability trajectory through FY2027 and beyond.
Related: Tenaga Nasional · Bursa Malaysia