Asset acquisitions in the pipeline

Buys property in Port of Tanjung Pelepas

Closing in to RM1 billion AUM

* We maintain our BUY rating on Axis REIT (Axis) with our fair value unchanged at RM2.37/unit. This is after applying 5% discount to our DCF valuation of RM2.49/unit.

KUALA LUMPUR: Quill Capita Trust’s net profit for 1Q ended March 31, 2010, rose 1.7% to RM7.48 million from RM7.35 million a year ago, driven by higher income contribution from properties and lower borrowing costs.

KUALA LUMPUR: SHL Consolidated Bhd has secured majority ownership of Wisma Sin Heap Lee, a prime commercial entity within the Jalan Tun Razak and Jalan Ampang intersection. This follows SHL's acquisition of a 60% stake in Goodstock Land Sdn Bhd for RM25.56 million.

HONG KONG: Recent statistics, though far from accurate, unambiguously show an overheating Chinese economy as well as a speculative bubble. The economy is rising at a double-digit rate. So, too, are property prices, according to official statistics (or, at more than 50%, according to the property service industry). Property investment has risen by a third.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis REIT) will acquire a leasehold industrial property within Johor's Port of Tanjung Pelepas enclave from Zone Capacity Sdn Bhd for RM30 million.

In a statement to the exchange on Tuesday, April 20, Axis REIT said the property comprises a 6.12 acre site which accommodates a 1-storey warehouse and 2-storey office.

HONG KONG: Homes here are the least affordable among the world's major cities and are rapidly becoming less affordable — a fact buyers may find to their cost when interest rates rise.

This is shown by an international comparison conducted by a US consultancy at the request of the South China Morning Post, and Hong Kong government figures.