Hektar Asset Management Sdn Bhd chief executive officer Johari Shukri Jamil
KUALA LUMPUR: Hektar Asset Management Sdn Bhd, the Manager of Hektar Real Estate Investment Trust (Hektar REIT) is actively exploring avenues for growth by ensuring a strong portfolio of retail brands in its malls.
Hektar Asset chief executive officer Johari Shukri Jamil said it would continue to look for ways to enhance and improve the look and condition of its malls as part of longer-term strategies to improve its dividend yields.
“To improve on revenue and debt recovery post-pandemic, our team has been consistently tracking tenants’ ongoing performance to carefully structure our new tenancies and renewals, apart from aggressively looking at strategies to manage rental collection.
“We also remain committed to reducing our environmental footprint and increasing our responsibility towards our stakeholders by continuously undertaking several ESG initiatives because it is the right thing to do for ourselves and our communities,” he said in a statement.
In the third quarter ended Sept 30 (3Q22), Hektar REIT registered a net property income of RM18.31mil, up 77.2% compared with RM10.33mil in 3Q21.
Its realised net income was RM13.5mil compared with RM1.4mil for the same quarter in the preceding year.
Revenue for the period jumped 62.4% to RM31.06mil compared with RM19.12mil in the same quarter of the previous year, mainly due to the increased rental income, including higher turnover rent, increased car park income and higher hotel.
In the first nine months to Sept 30, Hektar REIT’s net property income rose 40.4% to RM48.64mil against RM34.63mil last year, while the realised net income grew by 256% to RM33.82mil from RM9.50mil a year prior.
Its revenue rose 25% RM89.55mil compared with RM71.62mil in the corresponding period of 2021.
“Retail activities remained strong in the quarter under review. Recovery in consumer-related subsectors, including leisure, international tourism and hospitality, continued to aid in the overall performance of the retail industry.
“Hektar REIT’s malls are well-positioned as neighbourhood malls and leverage the proximity to the community, catering to all their basic needs as well as an increased desire for F&B and social offerings such as entertainment options to be enjoyed together with their family & friends,” Johari said.
