With all the recent talk about REIT dividend withholding tax, I think more investors will start looking beyond the usual REIT names for dividend ideas.

For me, Focus Point is one of the names that stands out.

What makes it interesting is that this is not just a dividend story. The business itself is still growing. In FY25, Focus Point delivered record revenue of RM311.4 million and PAT of RM35.0 million, while 4QFY25 was its strongest quarter yet with revenue of RM91.2 million and PAT of RM12.4 million. The group also recorded five consecutive years of revenue growth, and management has now moved to an at least 50% dividend payout policy with quarterly payouts. Past twelve months they have declared a total of 3.563 sen per share. Since their listing, paid a total RM87.2 million of dividends. Market cap also grew by 407.3% over the years, with 15.6 years CAGR of 11.0%.

So when I look at it, this feels like more than just a “high yield” name. You are also looking at a company with improving earnings, a strong core optical business, and a clearer dividend commitment now. With dividend yield at around 7.4%, I think it deserves more attention, especially for investors who are rethinking their dividend portfolio after the REIT tax issue.

Not saying it is a REIT replacement, but as an alternative dividend stock in Bursa, I do think Focus Point looks increasingly attractive.