On 4 September 2009, the Manager together with Am ARA REIT Managers Sdn Bhd (“Am ARA”), submitted an application to register the MRMA with the Registrar of Societies (“ROS”). A Protem Committee was formed for the purposes of registration with members drawn from the Manager and Am ARA. On 26 November 2009, the Managers of 11 MREITs joined hands to endorse the formation of the MRMA.
The objectives of MRMA are:
- To act as a collective representation of the Malaysian real estate investment sector.
- To establish an environment for more investments into high quality real estate in Malaysia.
- To establish a framework for the development of the REIT industry, to coordinate investment activities and promote networking possibilities within the region.
- Improve transparency and provide quality research and information to both local, regional and international investors.
- Develop common workable standards that meet with international best practices especially in the areas of financial reporting, disclosure and corporate governance.
- Represent members’ interests through lobbying the Malaysian Government and regulators for functional
- regulations, viable structures and tax harmonization in order to make MREIT’s competitive within the region and internationally.
- Encourage and promote the listed property funds industry.
- Provide insightful market research and data bases that can be practically utilized by members.
- Establish working committees that can formulate policies and coordinate the various activities.
- Introduce training and discussion forums to analyze applicable laws and legislation, trends and current issues, improve professionalism and knowledge within the real estate investment industry
The MRMA received its approval for registration from the Registrar of Societies on 21 May 2010