MAIN Board-listed Al-‘Aqar Healthcare REIT has posted a marginal 1.4% quarter-on-quarter (qoq) decline in its revenue to RM28.84 mil for its 2Q FY2025 ended June 30, 2025 from RM29.18 mil in 1Q FY2025.
However, net property income (NPI) for the world’s first Islamic healthcare REIT rose to RM25.4 mil from RM25.0 mil in 1Q FY2025 driven by enhanced operational discipline and proactive asset management initiatives.
For the 1H FY2025 period, the REIT posted an NPI of RM50.4 mil on the back of a RM58.03 mil revenue (1H FY2024: RM59.24 mil), underpinned by stable rental contributions from long-term secured lease arrangements.
The group’s Malaysian segment contributed RM50.1 mil in NPI during 1H FY2025 compared to RM50.8 mil in the same period last year.
“Our consistent performance reflects the strength of our long-term partnerships with KPJ Healthcare Bhd and the visibility of secured lease arrangements, including the RM15 mil annual rental from new hospital leases on extension buildings,” commented Al-`Aqar’s CEO Zulhilmy Kamaruddin.
“At the same time, we’ve strengthened portfolio resilience through proactive asset management and operational discipline which enhance efficiency across our assets.”
With the upcoming commencement of contributions from the Ampang Puteri and Penang hospital extension buildings in the next quarter, Zulhilmy expects these additions to further support portfolio performance.
“Looking ahead, our disciplined approach to acquisitions and portfolio optimisation ensures that we remain focused on delivering sustainable, long-term value to our unitholders.”
All in all, Al-`Aqar declared a distribution per unit (DPU) of 1.73 sen in 2Q FY2025 to bring its total 1H FY2025 DPU to 3.47 sen.
These operational gains reinforce earnings resilience and provide a strong platform for continued portfolio optimisation by supporting consistent and sustainable value for unitholders.
At 11.58am, Al-`Aqar was unchanged at RM1.26 with 2,900 shares traded, thus valuing the company at RM1.06 bil. – Aug 28, 2025
