经营范围
engaged in the investment in a diversified portfolio of properties with the objectives of achieving an attractive level of return from rental income and long term capital growth.
产业类别
* Retail
? Selayang Mall
* Industrial
? AIC Factory
? SilverBird Factory
? Gurun Automotive Warehouse
* Hospitality
? Holiday Villa, Alor Setar
? Holiday Villa, Langkawi
* Office
? Block A & B, South City Plaza
? Wisma AmanahRaya, Jalan Ampang
? Wisma Amanah Raya Berhad, Jalan Semantan
? Dana 13, Dana 1 Commercial Centre
? Wisma Comcorp
* Higher Education Building
? SEGi College
? SEGi University
13 properties with a total asset value of RM1.101 billion.
Occupancy of 13 properties are 100%.
Real Estate Related Assets RM962.820 Million.
产业遍布五种类别，比较能够对抗经济不景气的冲击，降低风险。
经营表现
* 业绩与净利略微增加
* 流动比以及速动比满意
* 应收账款略微上涨
* roa，roe与roic没有亮点
* 长期债务是净利十倍
* Profit Margin稳定
* 自由现金流充沛
* 营业现金流充沛
* 债务略高
CHAIRMAN’S STATEMENT
* Office sector: slower growth and continued to be resilient.
* Retail sector: oversupply with many new malls entering the market.
* Overall occupancy rate: average of 90%.
* Industrial sector: stabilize even in years to come.
* 23 June 2015, sold Wisma Amanahraya, garner realized gain of RM8.31 million.
* 购买价 RM68 Milion, 卖出价 RM78 Million, 目前市价 RM76 Million.
* Revenue increase by 12%. Bottom line improve by 15%.
* SilverBird Factory在高庭和上诉庭获胜，2016年六月的联邦法院官司也乐观。
* renewed the company's existing term loan for another 5 years.
* 中马和南马有收购案，即将敲定，预计有6.5%回酬。（没有列名字，可能有变数）
* Rental revenue increase by 12%, due to rental income from Wisma Comcorp and Wisma Amanahraya.
* 股息减少，因为去年脱售Wisma UEP and Permanis Factory产生realized gain。
* Operating costs increased by 18%，因为 GST.
* Gearing ratio reduced to 33.07% from 33.80%
* NAV increase of approximately 4%.
MANAGER’S REPORT（内容部分重复上面的）
* Wisma Comcorp 租给 Comintel Sdn Bhd
* Wisma ARB 租给 HELP University Sdn Bhd
* 四项产业月租增加1.23%～9.33%（其他的呢？）
操作
* PE低，DY高
* 股价变动不大
* 自由现金流很耀眼，不过债务太高
* 净利的95%作为股息，举债收购，资金配置受限体制
* 不推荐，除非作为低风险稳定收益投资。
http://value-mining.blogspot.my/2016/03/arreit-5127.html
