Axis Real Estate Investment Trust · MYX:AXREIT
Axis Real Estate Investment Trust — Q4 2015 Earnings Presentation
86 slides from Axis Real Estate Investment Trust's earnings presentation, 2016
Slide 1: A Decade of Success
A Decade of Success Axis REIT Managers Berhad 4Q2015 Results Presentation
Slide 2: We Are 10... and Growing
WE ARE 10... AND GROWING
Slide 3: Our 10 Year Milestones
Our 10 Year Milestones Assets Under Management RM296 million RM2.14 billion Space Under Management 978,000 sq ft 7,015,242 sq ft Properties 5 34 Valuation Gain since listing RM273,000,000 First REIT to convert into an Islamic REIT First PLC to adopt Cloud Computing First REIT to introd
Slide 4: 2015 Highlights
2015 HIGHLIGHTS 4
Slide 5: 2015 Highlights
2015 Highlights RM 2,141,493,000 Investment Properties 5
Slide 6: 2015 Highlights
2015 Highlights Completed the acquisition of Axis Shah Alam DC2 for RM45.0 million on 31 March, which was the remaining property initially transacted with a related party in 2014. Successfully signed the Sale & Purchase Agreement to acquire Beyonics iPark Campus for RM61.0 million, located in In
Slide 7: 2015 Highlights
2015 Highlights The Unit Split was implemented and completed with the Subdivided Units being listed and quoted on the Main Market of Bursa Securities on 9 September 2015. The fund size of the fund was increased from 547,758,040 units to 1,095,516,080 units upon completion of the Unit Split. Since
Slide 8: 2015 Return Comparatives
2015 Return Comparatives 8.00% 6.75% 6.00% 5.12% 4.19% 4.00% 3.65% 3.25% 2.00% 0.00% Axis-REIT Total Axis-REIT EPF Dividend 10-yr MGS 12 Months FD OPR Return * Distribution Yield Return Rate -2.00% -4.00% -4.75% -6.00% 8
Slide 9: The Axis Team
AAS THE AXIS TEAM
Slide 10: The A-Team
The A-Team Leong Kit May Siva Shanker Chief Executive Officer Nikki Ng Head of Investments Financial Controller Siva Shankar Jackie Law General Manager of Facilities Management Head of Real Estate Aziz Rasheed Chan Tze Wee 10 Head of Engineering Manager, Investments & Investor Relations
Slide 11: Addition to the A-Team
Addition to the A-Team Siva Shanker joined Axis REIT Managers Berhad in January 2016 as the Head of Investments . Siva qualified with a Diploma in Estate Agency and is a Registered Estate Agent with the Board of Valuers, Appraisers & Estate Agents Malaysia. He has more than 30 years of experience in
Slide 12: 2015 Finance Report
2015 FINANCE REPORT 12
Slide 13: 2015 Summary
2015 Summary YTD 2015 Total Net Income (“Realised”)(RM' 000) 91,537 Income Available for Distribution ("Realised") (RM' 000) 92,151 Earnings per Unit ("EPU") ("Realised") (Sen) * 8.35 Income Distribution Declared (RM'000) 92,109 Distribution per Unit ("DPU") (Sen) ** 8.40 Number of Investment Proper
Slide 14: Income Statement 4Q 2015 vs 4Q 2014
Income Statement 4Q 2015 vs 4Q 2014 4Q 2015 4Q 2014 Changes / (RM‘000) (RM’000) Movement No. of Properties 34 33 -1 Property Income 39,832 34,370 +15.89% Property Expenses (6,004) (5,235) +14.69% Net Property Income 33,828 29,135 +16.11% Profit Income / other income 176 663 Non-Property Expenses (4,
Slide 15: Income Statement 2015 vs 2014
Income Statement 2015 vs 2014 2015 2014 Changes / (RM ‘000) (RM’000) Movement No. of Properties 34 33 +1 Property Income - Note 1 163,077 137,625 +18.49% Property Expenses - Note 2 (23,746) (21,553) +10.18% Net Property Income 139,331 116,072 +20.04% Profit Income / Other Income 744 1,210 Net gain o
Slide 16: Income Statement 2015 vs 2014
Income Statement 2015 vs 2014 Note 1 – Property Income The higher property income as compared to last preceding year are due to contribution of rental proceeds from new property acquisition and positive rental reversion during the full financial year. Note 2 – Property Expenses Property expenses inc
Slide 17: Income Statement 2015 vs 2014
Income Statement 2015 vs 2014 Note 5 – No. of units in issuance and effect on DPU The Unit Split of 1 unit into 2 units has doubled the Fund's units in circulation and resulted in the DPU being halved. However the distribution yield remains. 17
Slide 18: Gross Yield of Investment Properties
Gross Yield of Investment Properties Properties Gross yield (%) Average gross yield = 9.80% 1 Wisma Kemajuan 17.99% 18 Axis Shah Alam DC 1 9.53% 2 Crystal Plaza 14.32% 19 Giant Hypermarket, Sungai Petani 9.01% 3 Delfi Warehouse 13.80% 20 Seberang Prai Logistic Warehouse 1 8.95% 4 FCI Senai 13.60% 21
Slide 19: Net Yield of Investment Properties
Net Yield of Investment Properties Properties Net yield (%) Average net yield = 8.41% 1 Wisma Kemajuan 13.99% 18 Bukit Raja Distribution Centre 8.25% 2 FCI Senai 12.18% 19 Axis Steel Centre 8.01% 3 Delfi Warehouse 12.06% 20 Tesco Bukit Indah 7.82% 4 Crystal Plaza 12.05% 21 Seberang Prai Logistic War
Slide 20: Income Statement RM' million
Income Statement 35.00 Adjusted Income Before Taxation/ Income Available For Distribution 30.00 Gain on disposal RM10.952 25.00 mil 20.00 RM' million 15.00 22.67 23.75 23.86 20.83 20.83 21.87 10.00 19.85 20.26 5.00 0.00 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015 20
Slide 21: 4th Quarter 2015 Income Distribution
4th Quarter 2015 Income Distribution Final 2015 Income Distribution: 2.00 sen The 2.00 sen DPU represents 99.95% income available for distribution from performance of properties for the period from 1 October 2015 to 31 December 2015 Important dates: Ex-date: 29 January 2016 Entitlement date: 3 Febru
Slide 22: Details of the IDRP 2015
Details of the IDRP 2015 Details of the 2015 IDRP (in conjunction with 2015 Third Interim Income Distribution): Income Distribution : 2.20 sen Electable portion : 1.00 sen Issue Price : RM1.59 Discount Rate : 5.8% Subscription Rate : 67% Net Proceeds : RM6.8 million 22
Slide 23: Summary of Realised EPU and DPU
Summary of Realised EPU and DPU (Restated After Unit Split) 10.00 9.88 9.30 9.30 9.23 9.25 Gain on disposal 9.00 8.64 8.60 8.71 8.35 8.40 7.89 7.90 8.01 8.00 8.00 7.73 7.64 7.00 6.80 6.82 6.41 6.48 6.00 sen per unit 5.00 4.00 3.00 2.44 2.35 2.00 1.00 - 2005 2006 2007 2008 2009 2010 2011 2012 2013 20
Slide 24: Statement of Financial Position
Statement of Financial Position 31/12/15 31/12/14 (RM’000) (RM’000) Changes Investment Properties – Note 1 2,048,626 1,982,587 + 66,039 Fixed Assets 3,602 2,821 + 781 Other Assets – Note 2 89,265 100,475 - 11,210 TOTAL ASSETS 2,141,493 2,085,883 + 55,610 Borrowings – Note 3 731,814 683,769 + 48,045
Slide 25: Statement of Financial Position
Statement of Financial Position Note 1 – Investment Properties The acquisition of Axis Shah Alam DC2 was completed on 31 March 2015 at RM45.0 million. A total of RM14.466 million was spent on the enhancement of the properties. A total revaluation gain of RM5.791 million was recognised in 2015. Note
Slide 26: Statement of Financial Positions – Note 3 Borrowings
Statement of Financial Positions – Note 3 Borrowings 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Total Borrowings (RM’000) 88,089 209,816 230,456 308,932 416,609 311,338 548,920 528,004 683,769 731,814 Total Assets (RM’000) 411,781 581,857 726,371 907,745 1,208,897 1,298,431 1,589,408 1,616,52
Slide 27: Statement of Financial Position: Gearing Levels
Statement of Financial Position Gearing Levels Placements Undertaken 40.0% 38.2% 36.0% 37.5% 36.1% 35.4% 36.0% 34.5% 35.0% 33.1% 34.0% 34.5% 34.2% 33.9% 32.7% 32.5% 33.4% 32.5% 34.2% 31.7% 33.0% 32.8% 32.6% 32.7% 32.5% 32.5% 31.2% 31.8% 31.3% 31.7% 30.0% 30.0% 29.1% 28.8% 27.3% 25.0% 26.8% 25.0% 23.
Slide 28: Unitholders' Capital – Note 4
Unitholders’ Capital – Note 4 2,500.0 2,141.5 2,085.7 2,000.0 1,589.4 1,616.5 1,500.0 1,298.4 1,208.9 RM mil 1,044.7 1,052.3 1,000.0 907.7 726.4 728.2 735.4 751.0 581.8 540.3 500.0 411.8 406.9 339.6 323.3 234.9 234.9 234.9 - 31-Dec-05 31-Dec-06 31-Dec-07 31-Dec-08 31-Dec-09 31-Dec-10 31-Dec-11 31-De
Slide 29: Unitholders' Capital – Note 4
Unitholders’ Capital – Note 4 … resulting in good total returns to unitholders. 360% Total returns on placements 320% 305% 280% 240% 135% 200% 164% 171% 160% 67% 121% 120% 76% 49% 80% 170% 69% 104% 31% 40% 88% 72% 38% 5% -2% 0% IPO @ RM1.25 Placement '08 @ Placement '09 @ Placement '10 @ Placement '
Slide 30: Statement of Financial Position
Statement of Financial Position Note 5 – Non-distributable reserve Non-distributable reserve mainly comprises the favorable gain in fair value of approx. RM273 million to date. Building Gain /(Loss) RM’000 Building Gain /(Loss) RM’000 Crystal Plaza 44,324 Delfi Warehouse 2,797 Menara Axis 37,591 Eme
Slide 31: 2015 Property Report
2015 PROPERTY REPORT
Slide 32: Overview
Overview In 2015, the occupancy rate has held steady at 91.97%. During the year, a total of 902,251 sf of space was expiring in 2015 representing 13% of the portfolio. We have succeeded in achieving a 82% tenants retention rate with positive rental reversion of 8% for 2015. There have been some move
Slide 33: Overview
Overview The industrial portfolio continues to perform very well and has excellent growth prospects in the coming years. Demand for industrial and warehousing space are rising and we are working with our new and current tenants on their space expansion to meet this new demand. In 4Q 2015, Axis PDI C
Slide 34: Key Metrics
Key Metrics As at 31 December 2015, the Portfolio has 34 assets comprising 7,015,242 sq. ft. and 140 tenants. 2015 2014 Movement No of properties 34 33 1 Property Income (RM’000) 163,077 137,625 18.5% Property Expenses (RM’000) 23,746 21,553 10.2% Net Property Income (RM’000) 139,331 116,072 20.0% O
Slide 35: Key Metrics
Key Metrics Average Rental Rates: Type of Properties 2015 2014 Movement Office (RM/sq. ft.) 4.64 4.55 + 0.09 Office Industrial (RM/sq. ft.) 2.72 2.61 + 0.11 Manufacturing Facilities (RM/sq. ft.) 1.33 1.29 + 0.04 Warehouse Logistics (RM/sq. ft.) 1.52 1.66 - 0.14 Hypermarket (RM/sq. ft.) 2.24 2.24 No
Slide 36: Space Under Management (sq. ft.)
Space Under Management (sq. ft.) Space Under Management (sq ft) 8,000,000 7,015,242 6,859,474 7,000,000 5,464,124 6,000,000 5,463,599 5,000,000 4,449,580 4,288,054 ( sq ft) 4,000,000 3,679,796 2,858,121 3,000,000 2,175,522 2,000,000 1,656,943 1,186,052 1,000,000 - 2005 2006 2007 2008 2009 2010 2011
Slide 37: Portfolio Occupancy Rate
Portfolio Occupancy Rate As at 31 December 2015, Axis-REIT has only 12 out of 34 properties that carry vacancy. 22 properties enjoy 100% occupancy. Occupancy Rate Occupancy Vacant As at 31 Dec 2015 91.97% 8.03% Vacancy As at 31 December 2015 8.03% Space to be let out 563,411 sq. ft. Occupancy Multi-
Slide 38: Occupancy Rates by Property as at 31 December 2015
Occupancy Rates by Property as at 31 December 2015 1 Menara Axis 93.74% 19 Niro Warehouse 100.00% 2 Crystal Plaza 81.33% 20 Delfi Warehouse 100.00% 3 Quattro West 84.18% 21 Axis Steel Centre 100.00% 4 Axis Eureka 59.08% 22 Bukit Raja Distribution Centre 100.00% 5 Axis Business Park 63.99% 23 Seberan
Slide 39: Occupancy Rates by Property as at 31 December 2015
Occupancy Rates by Property as at 31 December 2015 100.00 91.97% 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 - 39
Slide 40: Occupancy Rates – 5 Year Analysis
Occupancy Rates – 5 Year Analysis 100% 97.22% 96.25% 94.87% 92.98% 91.97% 90% 80% 70% 60% 50% 40% 30% 20% 7.02% 8.03% 10% 2.78% 3.75% 5.13% 0% 2011 2012 2013 2014 2015 Occupied Vacant 40
Slide 41: Diversified Portfolio
Diversified Portfolio Portfolio Diversification by Type and NLA 9% 18% 22% 5% 46% Office Office/ Industrial Hypermarkets Warehouse Logistic Manufacturing Facilities 41
Slide 42: Diversified Portfolio – 5 Year Analysis
Diversified Portfolio – 5 Year Analysis Portfolio Diversification by Type and NLA 50% 46% 43% 45% 45% 43% 40% 40% 35% 35% 31% 31% 30% 25% 23% 22% 20% 19% 18% 15% 14% 11% 11% 10% 8% 8% 8% 9% 9% 7% 7% 5% 5% 5% 3% 0% 2011 2012 2013 2014 2015 Office Office/Industrial Hypermarket Warehouse Logistic Manuf
Slide 43: Portfolio Location
Portfolio Location Portfolio Diversification by Geographical Location Petaling 28.40% Jaya Johor 24.07% Shah Alam 23.01% Penang 10.67% Klang 6.06% Nilai 4.16% Kedah 1.97% Cyberjaya 1.68% 43
Slide 44: Tenancy Mix
Tenancy Mix Single Tenant vs Multi Tenants 3% 41% 56% Single Tenant Multi Tenants Vacant 44
Slide 45: Tenancy Mix – 5 Years Analysis
Tenancy Mix – 5 Years Analysis 70% 61% 60% 58% 58% 58% 56% 50% 42% 42% 41% 40% 40% 36% 30% 20% 10% 3% 2% 3% 0% 2011 2012 2013 2014 2015 Multi-tenants Single tenant Vacant 45
Slide 46: Properties Below 90% Occupancy
Properties Below 90% Occupancy Occupancy rates of properties below 90% as at 31 December 2015 Wisma Academy 86.39% Fonterra HQ 84.96% Quattro West 84.18% Crystal Plaza 81.33% Axis TechCentre 81.01% Infinite Centre 71.53% Axis Business Park 63.99% Axis Eureka 59.08% Axis PDI Centtre - Axis Business C
Slide 47: Lease Expiry Profile – Looking Forward
Lease Expiry Profile – Looking Forward Year % of % of Rental Year % of % of Rental Year % of % of Rental Property 2016 Total NLA Income/month 2017 Total NLA Income/month 2018 Total NLA Income/month Menara Axis 103,019 1.47 3.29 22,073 0.31 1.11 - - - Crystal Plaza 120,122 1.71 3.82 11,153 0.16 0.33
Slide 48: Income Growth – Leasing Profile
Income Growth – Leasing Profile Successfully renegotiated 736,554 sq. ft. space out of 902,251.5 sq. ft. space due for renewal in 2015, representing 82% tenant retention. Rental growth of 559,712 sq. ft. space achieved from pre-negotiated rent step up in the leases. The leases in the portfolio
Slide 49: Positive Rent Reversions
Positive Rent Reversions Space Renegotiated Space Renegotiated Properties % Rent Movement (sq. ft.) Crystal Plaza 3,407 0.00% Axis Business Park 15,713 12.13% Axis Shah Alam DC 1 110,406 15.38% Wisma Kemajuan 64,060 10.63% Axis Eureka 160 0.22% Axis Technology Centre 111,889 10.04% Seberang Prai Log
Slide 50: Lease Expiry – Leasing Profile – 2011 to 2015
Lease Expiry – Leasing Profile – 2011 to 2015 2011 2012 2013 2014 2015 Sq Ft of space expiring 557,738 757,195 938,917 1,825,949 902,252 % over total NLA 12.54% 13.86% 17.18% 26.62% 12.86% Sq Ft of space renewed 540,279 507,841 789,795 1,445,092 736,554 % over total NLA 12.14% 9.29% 14.45% 21.06% 10
Slide 51: Weighted Average Lease Expiry (WALE)
Weighted Average Lease Expiry (“WALE”) The “WALE” for the portfolio is: By Year 4Q 2015 4Q 2014 4Q 2013 4Q 2012 4Q 2011 By NLA 3.89 4.22 3.89 4,.43 5.64 By Rental 3.99 4.33 3.99 4.17 5.19 51
Slide 52: Weighted Average Lease Expiry (WALE)
Weighted Average Lease Expiry (“WALE”) The “WALE” for the portfolio is: By Year 4Q 2015 4Q 2014 4Q 2013 4Q 2012 4Q 2011 By NLA 3.89 4.22 3.89 4.43 5.64 By Rental 3.99 4.33 3.99 4.17 5.19 52
Slide 53: Portfolio Efficiency (PE)
Portfolio Efficiency (“PE”) The Efficiency Ratio = Operating Cost for the Portfolio / Gross Property Income As part of the Fund’s continuous effort to manage operational cost, the Efficiency Ratio has improved. 4Q 2015 4Q 2014 4Q 2013 4Q 2012 4Q 2011 14.56% 15.66% 14.73% 15.17% 15.19% 53
Slide 54: Top 10 Tenants – Strong Rental Covenants
Top 10 Tenants – Strong Rental Covenants 1. Konsortium Logistik Berhad 2. LF Logistics Services (M) Sdn Bhd 3. Yongnam Engineering Sdn Bhd 4. Schenker Logistics (M) Sdn Bhd 5. Tenaga Nasional Berhad 6. Tesco Stores (M) Sdn Bhd 7. Strateq Data Center Sdn Bhd 8. DHL Properties (M) Sdn Bhd 9. SR Techni
Slide 55: Asset Enhancements
ASSET ENHANCEMENTS 55
Slide 56: Menara Axis – Enhancement
Menara Axis – Enhancement Handicap-friendly & Loading Ramp Drop-Off Area Columns COMPLETED 56 COMPLETED
Slide 57: Menara Axis – Enhancement
Menara Axis – Enhancement Ground Floor Lobby Columns COMPLETED 57
Slide 58: Menara Axis – Enhancement
Menara Axis – Enhancement Penthouse Lobby With Additional Lift Access 58 COMPLETED
Slide 59: Menara Axis – Enhancement
Menara Axis – Enhancement Typical Toilets On All Floors 59 COMPLETED
Slide 60: Menara Axis – Enhancement
Menara Axis – Enhancement Male & Female Surau 60 COMPLETED
Slide 61: Menara Axis – Enhancement
Menara Axis – Enhancement Carpark Painting 61 COMPLETED
Slide 62: Menara Axis – Enhancement
Menara Axis – Enhancement Lifts Upgrading 62 ONGOING
Slide 63: Axis PDI Centre – Proposed Enhancement (Before)
Axis PDI Centre – Proposed Enhancement (Before) 50 acre site 63
Slide 64: Axis PDI Centre – Proposed Enhancement (After)
Axis PDI Centre – Proposed Enhancement (After) A collaboration project with the Axis Group on the enhancement. 64
Slide 65: Axis PDI Centre – Proposed Enhancement
Axis PDI Centre – Proposed Enhancement Lebuhraya Shah Alam Proposed Johan Setia LRT Station GPS Coordinates : 2.949773, 101.472042 Subject Property Caltex Sijangkang Lebuhraya Lembah Klang Selatan The existing site is centrally located in the heart of the Klang Valley, enjoying a wide frontage onto
Slide 66: Sustainability Initiatives
SUSTAINABILITY INITIATIVES 66
Slide 67: Sustainability Initiatives – Up To 4Q 2015
Sustainability Initiatives – Up To 4Q 2015 In the process of drafting a holistic sustainability plan encompassing energy efficient, water conservation and solid waste management – dubbed “GREEN WITH ENVY”. Secured lease of 16,145 sq. ft. of roof space for installing solar panels at Wisma Kemajua
Slide 68: Investment Report
2015 INVESTMENT REPORT 68
Slide 69: Completed Acquisition
Completed Acquisition Axis Shah Alam DC 2 - Section 16 Shah Alam Completion Date : 31 March 2015 Land Area : Approx. 6 acres Net Lettable Area : 164,400 sq ft Land Tenure : Leasehold expiring 8 August 2066 Occupancy : 100% Solar Panel Leases : Approx. 145,000sf of roof space Purchase Price : RM45 mi
Slide 70: Ongoing Acquisitions
Ongoing Acquisitions Beyonics iPark Campus, Kulaijaya, Johor Expected Completion Date : End January 2016 Announcement Date : 11 November 2015 Land Area : Approx. 10 acres Land Tenure : Freehold Occupancy : 100% Purchase Price : RM61 million Projected Net Property Yield : 7.12% WALE : 10 years 70
Slide 71: Ongoing Acquisitions
Ongoing Acquisitions Logistics Warehouse – Pasir Gudang, Johor Land Area : Approx. 6 acres Land Tenure : Leasehold Occupancy : 100% Purchase Price : RM33 million WALE : 3 years 71
Slide 72: Prospective Acquisition Targets
Prospective Acquisition Targets The Manager is currently undergoing assessments for the following assets as future acquisition targets: 1. Industrial facility in Selangor 2. Industrial facility in Selangor 3. Hypermarket in Negri Sembilan 4. Warehouse in Negri Sembilan 5. Industrial facility in Pena
Slide 73: Property Market Report: Overview
Property Market Report: Overview PROPERTY MARKET REPORT Volume & Value of Property Market Transactions in Malaysia (2010 – 2015 1H) 450,000 430,403 427,520 376,583 381,130 384,060 400,000 350,000 300,000 250,000 193,405 186,661 200,000 150,000 RM162,974 RM142,845 RM152,372 100,000 RM137,828 RM107,44
Slide 74: Property Market Report: Secondary Market Transactions
Property Market Report: Secondary Market Transactions Transaction Volume by Category 31,519 40,000 35,000 30,000 25,000 20,000 15,000 10,000 3,359 2,796 1,312 1295 5,000 6,466 1,647 71 0 141 0 Selangor Kuala Lumpur Source : NAPIC & PPC Research 74
Slide 75: Property Market Report: Residential Market Transactions
Property Market Report: Residential Market Transactions Transaction Volume by Type 3,433 3,500 3,000 2,500 2,000 1,500 846 1,000 620 472 500 287 270 249 215 18 54 92 34 1 0 Source : NAPIC & PPC Research 75
Slide 76: Property Market Report: Industrial & Warehousing
Property Market Report: Industrial & Warehousing • As at 3Q 2015, 522 projects worth RM67.7 billion investment projects were approved by MIDA – 75% were domestic investments • Johor topped the list followed by Sarawak • Klang Valley - 131 projects approved - foreign investments 55% @ $23 billion • W
Slide 77: Property Market Report: Industrial & Warehousing
Property Market Report: Industrial & Warehousing Transaction Main Markets Activity Price Trend Occupancy Rate 2015 2016 2015 2016 2015 2016 Klang Valley Penang Penang Island Seberang Perai Johor Bahru Kota Kinabalu Kuching Source : WTW Research 77
Slide 78: Investor Relations Report
2015 INVESTOR RELATIONS REPORT 78
Slide 79: Unit Price Performance YTD 2015
Unit Price Performance YTD 2015 AXREIT: 1 Jan 2014 – 31 Dec 2015 4.00 3.69 3.69 3.62 3.62 3.58 3.62 3.50 3.55 3.54 3.55 3.53 3.53 3.45 3.50 3.38 3.37 3.34 3.31 3.27 3.09 3.00 2.85 2.50 2.00 1.69 1.65 1.61 1.64 1.50 1.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
Slide 80: Unit Price Movement YTD 2015
100% 110% 120% 130% 140% 80% 90% 1/1/2013 1/2/2013 1/3/2013 1/4/2013 1/5/2013 1/6/2013 1/7/2013 1/8/2013 1/9/2013 1/10/2013 1/11/2013 3Q 2015: Unit Price @ 30 Sep 2015 4Q 2015: Unit Price @ 31 Dec 2015 1/12/2013 1/1/2014 1/2/2014 1/3/2014 1/4/2014 1/5/2014 KLCI RM1.69 RM1.64 1/6/2014 80 1/7/2014 1/8
Slide 81: Volume Movement YTD 2015
Volume Movement YTD 2015 AXREIT: 1 Jan 2014 – 31 Dec 2015 45,000,000 40,208,000 39,783,200 40,000,000 35,000,000 33,826,000 30,000,000 27,806,000 27,347,800 25,000,000 23,451,400 22,491,600 21,092,600 21,028,800 20,000,000 18,616,000 15,849,600 15,000,000 11,271,000 11,143,400 12,995,800 11,328,600
Slide 82: Top 10 Unitholders YTD 2015
Top 10 Unitholders YTD 2015 1 SKIM AMANAH SAHAM BUMIPUTERA 2 EMPLOYEES PROVIDENT FUND 3 TEW PENG HWEE @ TEOH PENG HWEE 4 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) 5 LEMBAGA TABUNG HAJI 6 ALEX LEE LAO 7 PERMODALAN NASIONAL BERHAD 8 ABAS CARL GUNNAR BIN ABDULLAH 9 EXEMPT AN FOR EASTSPRING INVESTMENTS BE
Slide 83: Analysis of >2 million Unitholders
Analysis of >2 million Unitholders Top 5 increases in unitholdings: Last Quarter Increase Exempt An for BNP Paribas Securities Services (CLT ASSET-AIFM) 17.0% Six Sis for B&I Asian Real Estate Securities Fund 13.6% BBH & Co Boston for Vanguard Global Ex.-US Real Estate Index 11.9% Fund Exempt An for
Slide 84: Investor Visibility and Liquidity YTD 2015
Investor Visibility and Liquidity YTD 2015 No. of CDS Accounts 4,000 3,611 3,500 3,176 3,200 3,219 3,309 3,009 3,000 2,850 2,702 2,420 2,500 2,080 2,000 1,652 1,500 1,000 500 - 2008 2009 2010 2011 2012 2013 2014 1Q2015 2Q2015 3Q2015 4Q2015 Quarter-on-quarter, total number of CDS accounts increased
Slide 85: Analyst Coverage 4Q 2015
Analyst Coverage 4Q 2015 Coverage Rating Target Price (RM) Published Date CIMB Buy 1.90 20 Oct 2015 KAF Buy 2.00 20 Oct 2015 MIDF Hold 1.75 20 Oct 2015 Hong Leong IB Hold 1.63 20 Oct 2015 Maybank Hold 1.60 20 Oct 2015 Alliance DBS Hold 1.70 12 Nov 2015 Consensus Hold 1.74 18 Nov 2015 (S&P Capital IQ
Slide 86: Thank You
THANK YOU 86
Axis Real Estate Investment Trust — Q4 2015 Earnings Presentation on 6ix