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KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) remains positive and resilient in achieving growth backed by an aggressive and strategic leasing approach to increase the occupancy rate.
“Moving forward, our focus will be on the repositioning and sweating of assets under management to increase revenue and enhance operational efficiencies,” it said in a filing with Bursa Malaysia.
In the second quarter ended June 30 (2Q), Hektar REIT registered revenue of RM27.2mil and net property income (NPI) of RM15.5mil.
Hektar REIT said its NPI recorded a significant growth of 13% compared to the same quarter of the previous year, with an impressive NPI margin of 56.9%, indicative of effective financial management.
The realised net income for 2Q stood at RM6.9mil, which also showed improvement and was almost 6% higher than the same quarter in the preceding year.
Hektar REIT has declared an interim income distribution of 2.70 sen per unit for six months ended 2Q 2023, amounting to RM13.4mil.
Hektar Asset Management Sdn Bhd chief executive officer Johari Shukri bin Jamil said: “Retail activities remained strong in this quarter on the back of festivities, and our malls continue to be well-positioned as neighbourhood and community hubs.”
“Our commitment to improving our malls’ overall tenancy mix and occupancies has been rewarded with improved occupancy rates across the board. Our strategic financial management, such as the reduction in gearing ratio and the successful implementation of a group-wide cost optimization programme, has resulted in a robust NPI margin of 56.9%, demonstrating the financial resilience of our portfolio,” he said in a statement.
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