Axis Real Estate Investment Trust · MYX:AXREIT

Axis Real Estate Investment Trust — Q1 2009 Earnings Presentation

24 slides from Axis Real Estate Investment Trust's earnings presentation, April 2009

  1. Slide 1: Axis REIT First Quarter 2009 Financial Performance

    Axis REIT First Quarter 2009 Financial Performance

  2. Slide 2: Disclaimer

    Disclaimer This the information contained in this document is provided for information purposes only and in no way constitutes an offer of services or solicitation. Past performance is not indicative of future performance We decline any responsibility with respect to direct or indirect damages or co

  3. Slide 3: A Quick Snapshot

    A Quick Snapshot Approved Fund Size ‰ 255,901,000 units Manager ‰ Axis REIT Managers Bhd Listing Date ‰ 3 August 2005 Market Capitalisation ‰ RM335.23 million (as at 31 March 2009) Gearing ‰ RM240.33million (32.97% of Total Asset Value as at 31 March 2009 – Unaudited) Unit Price ‰ RM1.31 (as at 31 M

  4. Slide 4: Financial Results – Income Statement

    Financial Results – Income Statement Excluding unrealised earnings due to 1Q2009 1Q2008 changes in fair value of investment (RM ‘000) (RM ‘000) Changes / properties. (Unaudited) (Unaudited) Movement No. of Properties 19 15 +4 Property Income ‐ Note 1 17,329 14,429 + 20.1 % Property Expenses (2,705)

  5. Slide 5: Notes to Financial Results – Income Statement

    Notes to Financial Results – Income Statement (Unaudited) Note 1 – Property Income Property income in the current quarter has increased by 20.1%, arising from the completion of the 4 new acquisitions in 2008. Note 2 – Non Property Expenses The increase in non‐property expenses by 23.8% is mainly due

  6. Slide 6: Summary of EPU (Realised) and DPU

    Summary of EPU (Realised) and DPU 15.46 15.27 16.00 13.60 13.63 14.00 12.82 12.95 12.00 10.00 sen/unit 8.00 6.00 4.87 4.70 4.07 3.90 4.00 2.00 - 2005 2006 2008 2008 1Q2009 EPU DPU 6

  7. Slide 7: Income Distribution Policy

    Income Distribution Policy Axis REIT has changed its income distribution policy from semi‐annual payments to quarterly payments effective 1 January 2009. The payment dates are as follows: Period Payment Date 1 January 2009 – 31 March 2009 29 May 2009 1 April 2009 – 30 June 2009 No later than 31 Augu

  8. Slide 8: Detailed Property Performance Analysis – 31/03/09

    Detailed Property Performance Analysis – 31/03/09 (RM’000) Book Fair Value Acq Cost + 12 Months Gross Value Adjustment Enhancement Annualised Yield (a) (b) (c) Revenue (d) (d) / (c) 1 ABP 102,500 17,536 84,964 11,100 13.06% 2 Axis Plaza 30,700 8,198 22,502 2,796 12.43% 3 Crystal Plaza 89,800 33,304

  9. Slide 9: Balance Sheet Highlights (Unaudited)

    Balance Sheet Highlights (Unaudited) 31/03/09 31/12/08 Changes / RM '000 RM '000 Movement Investment Properties 724,641 723,100 + 1,541 Other Assets 4,188 3,271 + 916 TOTAL ASSETS 728,829 726,371 + 2,457 Borrowings 240,327 230,456 + 9,871 Other Payables 40,212 48,069 ‐ 7,857 TOTAL LIABILITIES 280,53

  10. Slide 10: Balance Sheet Highlights (Unaudited)

    Balance Sheet Highlights (Unaudited) 31/03/09 31/03/08 Changes / RM '000 RM '000 Movement Investment Properties 724,641 607,962 + 116,679 Other Assets 4,188 12,685 ‐ 8,497 TOTAL ASSETS 728,829 620,647 + 108,182 Borrowings 240,327 166,229 + 74,098 Other Payables 40,212 31,229 + 8,983 TOTAL LIABILITIE

  11. Slide 11: Financial Ratios

    Financial Ratios 31/3/09 31/12/08 30/9/08 30/6/08 31/3/08 31/12/07 30/9/07 30/6/07 31/3/07 Unit Price RM1.31 RM1.12 RM1.62 RM1.68 RM1.70 RM1.85 RM1.91 RM2.23 RM1.76 NAV RM1.752 RM1.750 RM1.654 RM1.654 RM1.654 RM1.625 RM1.574 RM1.429 RM1.429 Total Assets – RM’ mil 728.83 726.37 676.50 658.22 620.65 5

  12. Slide 12: Total Assets & Unitholders' Funds

    Total Assets & Unitholders’ Funds 800 726.37 728.83 700 658.22 600 518.86 500 447.85 448.29 411.78 416.75 423.16 RM mil 402.27 400 339.63 334.65 277.85 286.53 294.11 294.19 300 200 100 0 31-Dec-05 30-Jun-06 31-Dec-06 30-Jun-07 31-Dec-07 30-Jun-08 31-Dec-08 31-Mar-09 Total Asset Unitholders' Funds To

  13. Slide 13: No. of Unitholders

    Improved Investor Visibility and Liquidity 1,778 1,800 1,652 1,600 1,437 1,370 1,400 1,216 1,166 1,200 1,034 No. of Unitholders 1,000 941 800 600 400 200 - 31‐Dec‐05 31‐Dec‐06 30‐Jun‐07 31‐Dec‐07 30‐Jun‐08 30‐Sep‐08 31‐Dec‐08 31‐Mar‐09 ƒ Since the Shariah reclassification, Shariah‐based funds are ta

  14. Slide 14: Our Portfolio Performance

    Our Portfolio Performance 14

  15. Slide 15: Property Portfolio - Office

    Property Portfolio ‐ Office Crystal Plaza, Petaling Jaya Nestle House, Petaling Jaya Menara Axis, Petaling Jaya 15

  16. Slide 16: Property Portfolio – Office Industrial

    Property Portfolio – Office Industrial Axis Business Park, Petaling Jaya Axis Plaza, Shah Alam Infinite Centre, Petaling Jaya Wisma Kemajuan, Petaling Jaya Kayangan Depot, Shah Alam Wisma Bintang, Petaling Jaya Kompakar, Petaling Jaya Nestle Office & Warehouse, Shah Alam Axis Vista, Petaling Jaya 16

  17. Slide 17: Property Portfolio – Warehouse/Logistics

    Property Portfolio – Warehouse/Logistics BMW Asia Technology Centre Tanjung Pelepas, Johor Niro Warehouse Pasir Gudang, Johor North Port Logistics Centre 1, Klang Delphi Cocoa Warehouse Pasir Gudang, Johor Axis Shah Alam DC1, Shah Alam 17

  18. Slide 18: Property Portfolio – Light Industrial & Warehouse Retail Facilities

    Property Portfolio – Light Industrial & Warehouse Retail Facilities FCI Connectors Malaysia Sdn Bhd Senai, Johor Giant Hypermarket Sg Petani, Kedah 18

  19. Slide 19: Consistent AUM Growth - Growth of Space

    Consistent AUM Growth ‐ Growth of Space 2,858,121 20 2,858,121 2,800,000 Growth =190% 2,739,835 19 19 2,609,092 18 18 17 16 Net Lettable Area (sq ft) 2,175,522 2,100,000 14 14 No. of Properties 1,656,943 1,656,943 1,656,943 12 10 1,400,000 9 9 9 1,186,052 8 985,122 6 6 700,000 5 4 2 0 - Aug'05 Dec'0

  20. Slide 20: Portfolio Diversification - Type of Properties

    Portfolio Diversification ‐ Type of Properties Portfolio Diversification by Type and NLA Portfolio Diversification by Geographical and NLA 4.83% Office 14.71% 20.86% 16.92% Light Industrial Johor 24.63% 4.78% 4.83% Office/Industrial Kedah 4.69% Klang Warehousing/Logistics 54.91% Petaling Jaya 48.83%

  21. Slide 21: Occupancy Rate

    Occupancy Rate 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 95.4% 94 87 90 85 82 80 75 % Area Occupied 70 60 50 40 30 20 10 - • Reduced the overall vacancy of the portfolio from 4.8% on 31 Dec 2008 to 4.6% on 31 Mar 2009. 21

  22. Slide 22: Lease Expiry Profile

    Lease Expiry Profile Year % of % of Rental Year % of % of Rental Year % of % of Rental Property 2009 Total NLA Income /mth 2010 Total NLA Income /mth 2011 Total NLA Income /mth Menara Axis 51,510 1.80% 3.11% 58,002 2.03% 4.92% 14,034 0.49% 1.48% Crystal Plaza 24,856 0.87% 1.63% 169,002 5.91% 9.68% 9

  23. Slide 23: Maintaining Positive Rental Reversions

    Maintaining Positive Rental Reversions Multi Tenanted Properties Space Negotiated % Movement Menara Axis 135 No change Axis Business Park 17,796 + 14% Axis Plaza 5,939 No change Wisma Kemajuan 5,239 +12% Kayangan Depot 2,609 No change As at 31 March 2009, the Manager successfully renegotiated 31,718

  24. Slide 24: Thank You

    REAL ESTATE INVESTMENT TRUST Thank You

Axis Real Estate Investment Trust — Q1 2009 Earnings Presentation on 6ix