AXIS REAL ESTATE INVESTMENT TRUST

Integrated Annual Report 2024

Letter to Unitholders from the Chairman & CEO

Dato’ Carl Gunnar Myhre

@ Dato’ Abas Carl Gunnar

Bin Abdullah

Executive Chairman

Leong Kit May

Chief Executive Officer/

Executive Director

Letter to Unitholders from

the Chairman & CEO

Dear Unitholders,

2024 was an excellent year for Axis-REIT on all fronts. We delivered record investments and strong operating results, surpassing our targets. Backed by prudent capital management strategies, these achievements translated into one of our strongest financial results to date.

A year ago, we announced an ambitious target to grow Axis-REIT’s Assets Under Management (AUM) to RM5 billion by the end of 2024. We are pleased to report that we exceeded this target, completing a record 8 acquisitions during the year, raising our portfolio count to 69 properties with 15.15 million sq. ft. of space under management. Our robust investments lifted our AUM to RM5.26 billion as at 31 December 2024, surpassing the RM5 billion mark and extending our position as the leading industrial REIT in Malaysia.

Revenue

RM 0

million

DPU

0 sen

Total Assets Under Management

RM 0

billion

Our

Property Map

0

Total Properties

Our

Property Map

Central Region​

Office

Office/Industrial

Manufacturing Facility

Logistics Warehouse

Logistics Warehouse​

Hypermarket

Manufacturing Facility

Hypermarket

Office/Industrial​

Manufacturing Facility

Logistics Warehouse​

Hypermarket

Manager’s Discussion and Analysis

CEO’s Review

2024 was a sweet spot for Axis-REIT – amid a convergence of economic tailwinds and strategic opportunities, we achieved record property acquisitions, successfully completed our fifth development project, and delivered solid operating results, which lifted the Fund’s revenue and operating income.

2024 Financial Performance Highlights

Value Creation &

Sustainable Development Goals

Management of

Material Sustainability Matters

Economic

Economic Performance

Tenant Satisfaction

Quality Assets & Services – New Acquisitions

Quality Assets & Services – Existing Assets

Responsible Supply Chain Management

ENVIRONMENTAL

Energy & Carbon Footprint

Water Management

Waste Management

Governance

Business Ethics

Cybersecurity & Data Protection

SOCIAL

Occupational Health and Safety

Talent Development

Diversity and Inclusion

Human Rights & Labour Practices

Community Activity & Partnership

13th ANNUAL GENERAL MEETING

DATE:
24 April 2025
Thursday

TIME:
10.00 a.m.

VENUE:
Ground Floor,
Lobby 1 Crystal Plaza
No. 4, Jalan 51A/223
46100 Petaling Jaya
Selangor Darul Ehsan

Downloads

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CENTRAL REGION - OFFICE

CRYSTAL PLAZA

No. 4, Jalan 51A/223
Section 51A
46100 Petaling Jaya
Selangor

CARRYING VALUE

RM 0 .0

million

MENARA AXIS

No. 2, Jalan 51A/223
Section 51A
46100 Petaling Jaya
Selangor

CARRYING VALUE

RM 0

million

QUATTRO WEST

No. 4, Lorong Persiaran Barat
46100 Petaling Jaya
Selangor

CARRYING VALUE

RM 0

million

CENTRAL REGION - Office/Industrial

AXIS BUSINESS CAMPUS

Lot 13A & 13B
Jalan 225, Section 51A
46100 Petaling Jaya
Selangor

CARRYING VALUE

RM 0

million

AXIS BUSINESS PARK

No. 10, Jalan Bersatu 13/4
Section 13
46200 Petaling Jaya
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS INDUSTRIAL FACILITY @ BATU CAVES

Lot 5, Jalan Perusahaan 1
Kawasan Perindustrian PKNS
68100 Batu Caves
Selangor

CARRYING VALUE

RM 0

million

AXIS INDUSTRIAL FACILITY 1 @ SHAH ALAM

No. 3, Jalan Keluli 15/16
Section 15
40200 Shah Alam
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS TECHNOLOGY CENTRE

No. 13, Jalan 225
Section 51A
46100 Petaling Jaya
Selangor

CARRYING VALUE

RM 0

million

AXIS VISTA

No. 11, Jalan 219
Section 51A
46100 Petaling Jaya
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS VISTA 2

Lot 19, Jalan 51A/219
Off Federal Highway
46100 Petaling Jaya
Selangor

CARRYING VALUE

RM 0 .0

million

FONTERRA HQ

No. 23, Jalan Delima 1/1
Subang Hi-Tech Industrial Park
Batu Tiga
40000 Shah Alam
Selangor

CARRYING VALUE

RM 0

million

INFINITE CENTER

Lot 1, Jalan 13/6
Section 13
46200 Petaling Jaya
Selangor

CARRYING VALUE

RM 0

million

STRATEQ DATA CENTRE

No.12 Jalan Bersatu 13/4
Section 13
46200 Petaling Jaya
Selangor

CARRYING VALUE

RM 0 .0

million

THE ANNEX

No. 4, Jalan 19/1
Section 19
46300 Petaling Jaya
Selangor

CARRYING VALUE

RM 0 .0

million

WISMA ACADEMY PARCEL

No. 4A, Jalan 19/1
Section 19
46300 Petaling Jaya
Selangor

CARRYING VALUE

RM 0

million

WISMA KEMAJUAN

No. 2, Jalan 19/1B
Section 19
46300 Petaling Jaya
Selangor

CARRYING VALUE

RM 0 .0

million

CENTRAL REGION - Manufacturing Facility

AXIS AEROTECH CENTRE @ SUBANG

Jalan Aeroangkasa 4
Seksyen U3
40150 Shah Alam
Selangor

CARRYING VALUE

RM 0

million

AXIS FACILITY 1
@ BUKIT RAJA

Lot 1, Solok Waja 2
Kawasan Industri Bukit Raja
41050 Klang
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS FACILITY 2 @ NILAI

Lot No. 749
Kawasan Perindustrian Nilai II
71800 Nilai
Negeri Sembilan Darul Khusus

CARRYING VALUE

RM 0 .0

million

AXIS FACILITY 3
@ BUKIT RAJA

Lot 6, Solok Waja 2
Kawasan Perusahaan Bukit Raja
41050 Klang
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS INDUSTRIAL FACILITY @ RAWANG

Lot 795 & 796 Jalan Monorail
Kawasan Industri Sungai Choh
48000 Sungai Choh Rawang
Selangor

CARRYING VALUE

RM 0

million

AXIS INDUSTRIAL FACILITY @ SENDAYAN

PT11653, Jalan Techvalley 1/2
Kawasan Perindustrian Sendayan Techvalley
71950 Seremban
Negeri Sembilan

CARRYING VALUE

RM 0 .0

million

AXIS INDUSTRIAL FACILITY 1 @ MERU

Lot 6119, Jalan Haji Salleh/KU8
Batu 5 1/2, Pekan Meru
41050 Klang
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS INDUSTRIAL FACILITY 2 @ SHAH ALAM

Lot 16, Jalan Pengapit 15/19
Seksyen 15
40200 Shah Alam
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS SHAH ALAM DISTRIBUTION CENTRE 1

Lots 2-22,2-24,2-26,2-28
Jalan SU 6A
Taman Perindustrian Subang
(Lion Industrial Park), Section 22
40300 Shah Alam, Selangor

CARRYING VALUE

RM 0 .0

million

EMERSON INDUSTRIAL FACILITY NILAI

Lot 13111 & Lot 13112
Mukim Labu
Kawasan Perindustrian Nilai 1
71800 Nilai
Negeri Sembilan

CARRYING VALUE

RM 0

million

CENTRAL REGION - Logistics Warehouse

AXIS FACILITY 1 @
PULAU INDAH

PT 64238
Jalan Perigi Nenas 7/2 KS11
Taman Perindustrian Pulau Indah
42920 Pelabuhan Klang
Selangor

CARRYING VALUE

RM 0

million

AXIS FACILITY 2 @
PULAU INDAH

PT 64237
Jalan Perigi Nenas 7/2 KS11
Taman Perindustrian Pulau Indah
42920 Pelabuhan Klang
Selangor

CARRYING VALUE

RM 0

million

AXIS FACILITY 2 @
BUKIT RAJA

No 4, Solok Waja 3
Kawasan Perindustrian Bukit Raja
41050 Klang
Selangor

CARRYING VALUE

RM 0

million

AXIS MEGA DISTRIBUTION CENTRE

Lot 7316 (PT 3609)
Persiaran Sijangkang Utama
42500 Telok Panglima Garang
Selangor

CARRYING VALUE

RM 0 .0

million

AXIS NORTHPORT DISTRIBUTION CENTRE 1

Lot 19, Lebuh Hishamuddin 1
Selat Klang Utara
42000 Pelabuhan Klang
Selangor

CARRYING VALUE

RM 0

million

AXIS SHAH ALAM DISTRIBUTION CENTRE 2

Lot No. 10 & 12
Jalan Pahat 16/8A,
Lot No. 11 & 13
Jalan Gudang 16/9, Section 16
40200 Shah Alam, Selangor

CARRYING VALUE

RM 0 .0

million

AXIS SHAH ALAM DISTRIBUTION CENTRE 3

Lot No. 22202, Jalan Gambus 33/4
Off Jalan Bukit Kemuning
Batu 8.5, 40400 Shah Alam
Selangor

CARRYING VALUE

RM 0

million

AXIS SHAH ALAM DISTRIBUTION CENTRE 4

Lot PT 5038-5041
Jalan Teluk Datuk 28/40
Off Persiaran Sepang
Seksyen 28, 40400 Shah Alam
Selangor

CARRYING VALUE

RM 0

million

AXIS SHAH ALAM DISTRIBUTION CENTRE 5

Lot 45 (177) Jalan Utas 15/7
Seksyen 15
40200 Shah Alam
Selangor

CARRYING VALUE

RM 0 .0

million

BUKIT RAJA DISTRIBUTION CENTRE

No. 43 & 44, Lengkok Keluli 1
Kawasan Perindustrian Bukit Raja Selatan, Seksyen 7
40000 Shah Alam, Selangor

CARRYING VALUE

RM 0 .0

million

BUKIT RAJA DISTRIBUTION CENTRE 2

No 3, Jalan Keluli Satu
Kawasan Perindustrian
Bukit Raja Selatan
40000 Shah Alam, Selangor

CARRYING VALUE

RM 0 .0

million

SENAWANG INDUSTRIAL FACILITY

Lot 73 & 74
Persiaran Bunga Tanjung 1
Senawang Industrial Park
70400 Seremban
Negeri Sembilan

CARRYING VALUE

RM 0

million

NORTHERN REGION - Logistics Warehouse

AXIS FACILITY @
BATU KAWAN

PMT 770, Jalan Cassia Selatan 6/4
Taman Perindustrian Batu Kawan
14110 Bandar Cassia
Penang

CARRYING VALUE

RM 0

million

BAYAN LEPAS DISTRIBUTION CENTRE

88A, Lintang Bayan 9
Lintang Bayan Lepas Industrial Park
Phase IV
11900 Bayan Lepas
Penang

CARRYING VALUE

RM 0 .0

million

SEBERANG PRAI LOGISTICS WAREHOUSE 1

Plot 24, Tingkat Perusahaan 6
Kawasan Perusahaan Prai Phase 4
13600 Seberang Prai Tengah
Penang

CARRYING VALUE

RM 0

million

SEBERANG PRAI LOGISTICS WAREHOUSE 2

Plot 23, Tingkat Perusahaan 6
Kawasan Perusahaan Prai Phase 4
Seberang Prai Tengah
Penang

CARRYING VALUE

RM 0 .0

million

SEBERANG PRAI LOGISTICS WAREHOUSE 3

No. 74
Lorong Perusahaan Utama 4
Bukit Tengah Industrial Park
14000 Bukit Mertajam
Penang

CARRYING VALUE

RM 0 .0

million

NORTHERN REGION - Hypermarket

AXIS HYPERMARKET @
SUNGAI PETANI

Jalan Lencongan Barat
08000 Sungai Petani
Kedah

CARRYING VALUE

RM 0 .0

million

EAST COAST REGION - Manufacturing Facility

WASCO FACILITY @ KUANTAN

Sub Lot 2
Kawasan Perindustrian MIEL Gebeng
KM25, Jalan Kuantan-Kemaman
P.O. Box 240
25720 Kuantan, Pahang

CARRYING VALUE

RM 0 .0

million

EAST COAST REGION - Hypermarket

AXIS HYPERMARKET @
TEMERLOH

Temerloh Mall
Jalan Jaya
28000 Temerloh
Pahang

CARRYING VALUE

RM 0

million

SOUTHERN REGION - Office/Industrial

INDAHPURA FACILITY 3

75 (Plot 111), Jalan i-Park 1/8
Kawasan Perindustrian i-Park
Bandar Indahpura
81000 Kulai, Johor

CARRYING VALUE

RM 0

million

SOUTHERN REGION - Manufacturing Facility

BEYONICS I-PARK CAMPUS - BLOCK A

No. 95, Jalan i-Park 1/10
Kawasan Perindustrian i-Park
81000 Bandar Indahpura
Kulaijaya, Johor

CARRYING VALUE

RM 0

million

BEYONICS I-PARK CAMPUS - BLOCK B

No. 96, Jalan i-Park 1/10
Kawasan Perindustrian i-Park
81000 Bandar Indahpura
Kulaijaya, Johor

CARRYING VALUE

RM 0

million

BEYONICS I-PARK CAMPUS - BLOCK C

No. 97, Jalan i-Park 1/10
Kawasan Perindustrian i-Park
81000 Bandar Indahpura
Kulaijaya, Johor

CARRYING VALUE

RM 0 .0

million

BEYONICS I-PARK CAMPUS - BLOCK D

No. 98, Jalan i-Park 1/10
Kawasan Perindustrian i-Park
81000 Bandar Indahpura
Kulaijaya, Johor

CARRYING VALUE

RM 0 .0

million

BEYONICS I-PARK CAMPUS - BLOCK E

No. 93, Jalan i-Park 1/10
Kawasan Perindustrian i-Park
81000 Bandar Indahpura
Kulaijaya, Johor

CARRYING VALUE

RM 0 .0

million

BEYONICS I-PARK CAMPUS - BLOCK F

92 (Plot 132), Jalan i-Park 1/10
Kawasan Perindustrian i-Park
Bandar Indahpura
81000 Kulai, Johor

CARRYING VALUE

RM 0

million

D21 INDUSTRIAL FACILITY

(formerly known as D21 Logistics Warehouse)
Lot D21, Jalan Tanjung A/3
Distripark A
Port of Tanjung Pelepas
Gelang Patah, 81560 Johor

CARRYING VALUE

RM 0 .0

million

FCI SENAI

PLO 205, Jalan Cyber 14
Kawasan Perindustrian Senai IV
81400 Johor

CARRYING VALUE

RM 0

million

INDAHPURA FACILITY 1

No.69, Jalan i-Park 1/7
Kawasan Perindustrian i-Park
81000 Bandar Indahpura
Kulaijaya, Johor

CARRYING VALUE

RM 0

million

INDAHPURA FACILITY 2

74 (Plot 112), Jalan i-Park 1/8
Kawasan Perindustrian i-Park
Bandar Indahpura
81000 Kulai, Johor

CARRYING VALUE

RM 0

million

INDAHPURA FACILITY 4

No. 89A, Jalan i-Park 1/6
Kawasan Perindustrian i-Park
Bandar Indahpura
81000 Kulai, Johor

CARRYING VALUE

RM 0

million

NUSAJAYA TECH PARK FACILITY 1

Nos. 1, 3 & 5
Jalan Teknologi Perintis 1
Taman Teknologi Nusajaya
79200 Iskandar Puteri, Johor

CARRYING VALUE

RM 0

million

NUSAJAYA TECH PARK FACILITY 2

No. 14
Jalan Teknologi Perintis 1/3
Taman Teknologi Nusajaya
79200 Iskandar Puteri, Johor

CARRYING VALUE

RM 0 .0

million

SOUTHERN REGION - Logistics Warehouse

D8 LOGISTICS WAREHOUSE

Lot D8, Jalan Tanjung A/4
Distripark A
Port of Tanjung Pelepas
Gelang Patah, 81560 Johor

CARRYING VALUE

RM 0

million

D37C LOGISTICS WAREHOUSE

Plot D37c, Jalan DPB 3
Distripark B
Pelabuhan Tanjung Pelepas
81560 Gelang Patah, Johor

CARRYING VALUE

RM 0 .0

million

DW1 LOGISTICS WAREHOUSE

Plots DW1 and DW2
Jalan Tanjung A/2, Distripark A
Pelabuhan Tanjung Pelepas
81560 Gelang Patah, Johor

CARRYING VALUE

RM 0

million

KERRY WAREHOUSE

PLO 731, Jalan Nikel 2
Kawasan Perindustrian Pasir Gudang
81700 Pasir Gudang, Johor

CARRYING VALUE

RM 0

million

NIRO WAREHOUSE

PLO 419-421, Jalan Emas 2
Pasir Gudang Industrial Estate
81700 Pasir Gudang, Johor

CARRYING VALUE

RM 0

million

PASIR GUDANG LOGISTICS WAREHOUSE 1

PLO 563, Jalan Keluli 8
Pasir Gudang Industrial Estate
81700 Pasir Gudang, Johor

CARRYING VALUE

RM 0

million

PASIR GUDANG LOGISTICS WAREHOUSE 2

Plot 78, Jalan Keluli
Kawasan Perindustrian Pasir Gudang
81700 Pasir Gudang
Johor Bahru

CARRYING VALUE

RM 0 .0

million

XIN HWA WAREHOUSE @ PASIR GUDANG

Plot 823 & Plot 828, Jalan Nikel 2
Kawasan Perindustrian Pasir Gudang
81700 Pasir Gudang, Johor

CARRYING VALUE

RM 0

million

SOUTHERN REGION - Hypermarket

AXIS HYPERMARKET @ JOHOR

No. 1, Jalan Bukit Indah 15
81200 Johor

CARRYING VALUE

RM 0

million