Hektar Reit net income falls

KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar Reit)’s net profit slipped to RM10.45mil in the first quarter ended March 31 from RM11.06mil a year earlier.

It attributed the lower net income mainly to temporary vacancies at Central Square from the ongoing asset enhancement initiative and rising operating costs.

Its revenue for the quarter rose marginally to RM30.17mil from RM30.07mil a year earlier.

Hektar REIT has declared a first distribution of 2.6 sen per unit.