Axis-REIT expected to post higher FY24 earnings

Maybank IB Research anticipates stronger earnings in FY24 for Axis-REIT.

PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) is expected to post stronger earnings in the financial year 2024 (FY24) backed by new assets contribution, positive rental reversions and stable occupancy rates, say analysts.

According to Hong Leong Investment Bank Research (HLIB Research), Axis-REIT’s ongoing acquisitions pending completion, namely, the hypermarket in Temerloh for RM25.8mil and the manufacturing facility in Sendayan for RM48mil, along with the ongoing construction of Axis Mega DC2, will propel the company’s earnings growth going forward.