PETALING JAYA: A revaluation exercise by Hektar Real Estate Investment Trust (REIT) on six of its properties has resulted in a revaluation deficit of RM38.3mil, representing 3.08% over the unaudited net book value of RM1.3bil as at Dec 31,2020.
Based on the unaudited results as at Dec 31, the net asset value per unit of RM1.339 declined to RM1.256 or equivalent to RM0.083 per unit upon incorporation of the revaluation deficit of RM38.3mil.
The revaluation was conducted to determine the current market values of Subang Parade, Mahkota Parade, Wetex Parade, Central Square, Kulim Central and Segamat Central for accounting purposes as per Financial Reporting Standard (FRS) 140.
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