Published: 2009/12/03
THE managers of 11 Malaysian real estate investment trusts (REITs) have teamed up to set up the Malaysian REIT Managers Association (M-REITMA), allowing players in the sector to work closer with the authorities to grow the industry.
"For the purpose of registration with the Registrar of Societies (ROS), we have proceeded to form a protem committee comprising seed members from Am ARA REIT Managers Sdn Bhd and Axis REIT Managers Bhd when we handed in our application to register the association to the ROS on September 4," said protem committee chairman Steward Labrooy of Axis REIT in a statement.
"Without an official association representing members of the local REIT industry, it soon became apparent to all of us that we were unable to have effective dialogues with the regulators and the Ministry of Finance in order to communicate the issues facing the industry and to propose changes," it added.
The association, currently pending approval from ROS, will comprise AmFirst REIT, AmanahRaya REIT, Atrium REIT, Axis-REIT, Al-Hadharah Boustead REIT, Al-Aqar KPJ REIT, Hektar REIT, Quill Capita Trust, UOA REIT, Tower REIT and Starhill REIT.
The REIT sector is now over four years old, with the first REIT having listed in August 2005. Today, there are 13 listed REITS with a market capitalisation of RM5.4 billion.
11 comments:
Bought TM at 2.99
bought GENM at 2.82
Market no direction.
Sold back all GENM at 2.84, realize intraday gain. Today also make another intraday gain on new stock: IGB; bought at 1.92; sold at 1.96; together manage to pocket few hundreds intraday profit :)
Today also make some selling on portfolio to realize more paper profit: sold cresbld at 74-75sen; portasco at 77.5-78sen; and sold off glomac at 1.27 and hunzapty at 1.41
Core portfolio
Protasco 52.4%
Hingyap 40.7%
Lonbisc 16.8%
Crestbld 4.4%
Cheetah 2.2%
Trading portfolio
TM 16.5%
volume slump again, if market can't go up anymore, i rather wish market to correct as soon as possible, so that stock can be on bargain again. Trading at sideway is very difficult
agreed. hard to make any trading if market sideway.
This month will be quiet i presume as Christmas is approaching...
bought IOI corp at 5.46-5.47
just sold back all IOI corp a 5.55; realize more than a k intraday profit :D)
Bursa still unable to recover Index, what a poor service ...
Index should be in +ve zone as many bluechip surge... :)
Good trade on IOICORP.
Bought Axiata at 3.04
It is battle between -ve (sime+ CIMV+ PBbank+ Axiata) vs. +ve (Maxis + Genting + IOI corp)
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