-- Axis Real Estate Investment Trust’s (“Axis-REIT”) trustee, RHB Trustees Berhad has entered into a sale and purchase agreement with TS Worldwide Warehousing Sdn. Bhd. to acquire a warehouse facility located in Telok Gong, Klang for a total cash consideration of RM80.0 million.
The property comprises two warehouse blocks with annexed office buildings and ancillary structures, situated on approximately 10.19 acres of leasehold industrial land, with a net lettable area of approximately 259,310 square feet. It is currently fully occupied by Tuck Sun Logistics Sdn. Bhd. and will be leased to the same tenant under a fixed lease term of 6 years comprising an initial term of 3 years and a second term of 3 years, with an initial monthly rental of RM425,764.40, subject to agreed step-up during the second term.
Strategically located within Kawasan Perindustrian Telok Gong, the property enjoys excellent accessibility to major highways such as Pulau Indah Highway, Shah Alam Expressway (KESAS), and West Coast Expressway. Its proximity to Klang city centre, Shah Alam, Petaling Jaya, and Kuala Lumpur further enhances its appeal as a prime logistics and industrial hub.
The acquisition will be funded by existing bank facilities, and is expected to increase Axis-REIT’s financing ratio to 34.3% of audited total assets as at 31 December 2024.
Axis REIT Managers Berhad chief executive officer/executive director Leong Kit May said, “This acquisition is in line with our investment strategy to grow our portfolio with high-quality, income-accretive assets. The property is located in an established industrial area and within proximity of two major ports namely, Northport and Westport. Upon completion of this acquisition by end 2026, we are confident that this asset will strengthen our recurring income base and contribute positively to our earnings.”
About Axis Real Estate Investment Trust
Axis Real Estate Investment Trust (“Axis-REIT”), Malaysia’s first real estate investment trust, was listed on Bursa Securities on 3 August 2005. Having been reclassified as an Islamic REIT on 11 December 2008, all acquisitions by Axis-REIT are Shariah compliant. It has a diverse portfolio of 68 properties strategically located in the Klang Valley, Johor, Penang, Pahang, Negeri Sembilan and Kedah as at 30 June 2025. Axis REIT Managers Berhad is the Manager of Axis- REIT while RHB Trustees Berhad is the trustee of Axis-REIT.
Axis-REIT has a solid industrial space portfolio. As at 30 June 2025, the occupancy rate of Axis- REIT’s portfolio stood at 97% with a weighted average lease expiry period of 4.6 years, based on rental. The total space under management is 15.11 million square feet and total asset value of RM5.21 billion.
For more information, please log on to http://www.axis-reit.com.my.
Release ID: 89166580
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