Tower Real Estate Investment Trust (5111) - Net Assets
Based on the latest financial reports, Tower Real Estate Investment Trust (5111) has net assets worth RM572.81 Million MYR (≈ $143.81 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM846.72 Million ≈ $212.58 Million USD) and total liabilities (RM273.90 Million ≈ $68.77 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how strategically is Tower Real Estate Investment Trust's equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM572.81 Million |
| % of Total Assets | 67.65% |
| Annual Growth Rate | 0.89% |
| 5-Year Change | 9.07% |
| 10-Year Change | 4.78% |
| Growth Volatility | 4.29 |
Tower Real Estate Investment Trust - Net Assets Trend (2012–2024)
This chart illustrates how Tower Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Tower Real Estate Investment Trust (5111) total market value.
Annual Net Assets for Tower Real Estate Investment Trust (2012–2024)
The table below shows the annual net assets of Tower Real Estate Investment Trust from 2012 to 2024. Also explore how fast is Tower Real Estate Investment Trust growing its equity to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | RM569.48 Million ≈ $142.98 Million |
-0.11% |
| 2023-12-31 | RM570.08 Million ≈ $143.13 Million |
+13.77% |
| 2022-12-31 | RM501.07 Million ≈ $125.80 Million |
-3.89% |
| 2021-12-31 | RM521.36 Million ≈ $130.90 Million |
-0.14% |
| 2020-12-31 | RM522.11 Million ≈ $131.08 Million |
-2.10% |
| 2019-12-31 | RM533.31 Million ≈ $133.90 Million |
-1.25% |
| 2018-12-31 | RM540.08 Million ≈ $135.60 Million |
-1.01% |
| 2017-12-31 | RM545.60 Million ≈ $136.98 Million |
+0.07% |
| 2016-12-31 | RM545.25 Million ≈ $136.89 Million |
+0.32% |
| 2015-12-31 | RM543.52 Million ≈ $136.46 Million |
+1.40% |
| 2014-12-31 | RM536.00 Million ≈ $134.57 Million |
+4.28% |
| 2013-12-31 | RM514.00 Million ≈ $129.05 Million |
+0.39% |
| 2012-12-31 | RM512.00 Million ≈ $128.55 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tower Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 18.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM158.09 Million | 27.76% |
| Common Stock | RM350.02 Million | 61.46% |
| Other Components | RM61.36 Million | 10.78% |
| Total Equity | RM569.48 Million | 100.00% |
Tower Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Tower Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GROUP PAREF INH. EO 25
F:G5I
|
$36.98 Million |
|
Berlina Tbk
JK:BRNA
|
$37.00 Million |
|
Actinium Pharmaceuticals Inc
NYSE MKT:ATNM
|
$37.02 Million |
|
Sekuro Plastik Ambalaj Sanayi AS
IS:SEKUR
|
$37.03 Million |
|
Gapwaves AB Series B
ST:GAPW-B
|
$36.96 Million |
|
Playside Studios Ltd
AU:PLY
|
$36.93 Million |
|
Duck Yang Ind
KO:024900
|
$36.90 Million |
|
Intergis
KO:129260
|
$36.90 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tower Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 570,080,000 to 569,478,000, a change of -602,000 (-0.1%).
- Net income of 7,203,000 contributed positively to equity growth.
- Dividend payments of 7,805,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM7.20 Million | +1.26% |
| Dividends Paid | RM7.80 Million | -1.37% |
| Total Change | RM- | -0.11% |
Book Value vs Market Value Analysis
This analysis compares Tower Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.26x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.15x to 0.26x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | RM1.94 | RM0.30 | x |
| 2016-12-31 | RM1.94 | RM0.30 | x |
| 2017-12-31 | RM1.95 | RM0.30 | x |
| 2018-12-31 | RM1.93 | RM0.30 | x |
| 2019-12-31 | RM1.90 | RM0.30 | x |
| 2020-12-31 | RM1.86 | RM0.30 | x |
| 2021-12-31 | RM1.86 | RM0.30 | x |
| 2022-12-31 | RM1.79 | RM0.30 | x |
| 2023-12-31 | RM1.16 | RM0.30 | x |
| 2024-12-31 | RM1.16 | RM0.30 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tower Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.26%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.51%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 1.48x
- Recent ROE (1.26%) is below the historical average (1.52%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 4.75% | 69.16% | 0.07x | 1.05x | RM-28.56 Million |
| 2016 | 3.88% | 57.83% | 0.06x | 1.04x | RM-33.36 Million |
| 2017 | 3.63% | 60.64% | 0.06x | 1.04x | RM-34.76 Million |
| 2018 | 2.56% | 31.39% | 0.08x | 1.06x | RM-40.18 Million |
| 2019 | 1.46% | 35.92% | 0.04x | 1.10x | RM-45.57 Million |
| 2020 | -0.95% | -15.53% | 0.04x | 1.58x | RM-57.16 Million |
| 2021 | 1.13% | 18.02% | 0.04x | 1.59x | RM-46.26 Million |
| 2022 | -3.51% | -51.96% | 0.04x | 1.61x | RM-67.71 Million |
| 2023 | 1.01% | 15.47% | 0.04x | 1.47x | RM-51.28 Million |
| 2024 | 1.26% | 18.51% | 0.05x | 1.48x | RM-49.74 Million |
Industry Comparison
This section compares Tower Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Office industry.
Industry Context
- Industry: REIT - Office
- Average net assets among peers: $1,410,272,500
- Average return on equity (ROE) among peers: 4.21%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tower Real Estate Investment Trust (5111) | RM572.81 Million | 4.75% | 0.48x | $36.97 Million |
| Sentral REIT (5123) | $522.00 Million | 7.47% | 0.64x | $196.60 Million |
| IGB Commercial Real Estate Investment Trust Unit (5299) | $2.30 Billion | 0.96% | 0.42x | $373.85 Million |
About Tower Real Estate Investment Trust
Tower Real Estate Investment Trust was constituted under the Deed dated 17 February 2006 (as amended and restated by the restated deed dated 29 May 2014 and the second restated deed dated 23 October 2019) entered between the Manager and MTrustee Berhad, acting as the Trustee of Tower REIT, and listed on the Main Market of Bursa Malaysia Securities Berhad on 12 April 2006.