Latest news with #HektarReit
New Straits Times
6 days ago
- Business
- New Straits Times
Hektar Reit posts 8.9pct higher income in Q1
KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar Reit) posted RM30.9 million revenue in the first quarter of financial year 2025 (Q1 FY25), up 8.9 per cent from RM28.4 million a year earlier. This was driven by income contributions from the newly-acquired Kolej Yayasan Saad (KYS) education asset and improved performance from Hektar Reit's retail properties. Its net property income rose 4.4 per cent to RM15 million, while net realised income stood at RM4.2 million, lower than the RM5.1 million in the same quarter last year. This was due to the absence of one-off fund placement income recognised in prior period and slightly higher administrative and financing expenses. In line with its environmental, social and governance (ESG) ambitions, Hektar Reit partnered with Samaiden Group Bhd to implement solar project at five of its shopping centres. The initiative is projected to deliver long-term energy cost savings of about RM2.05 million annually or RM41.3 million over 20 years. The Reit's manager Hektar Asset Management Sdn Bhd, said in a statement that a comprehensive asset enhancement initiative is underway at Subang Parade, with the first phase of interior upgrades targeted for completion by the first quarter of 2026. Hektar Asset executive director and chief executive officer Zainal Iskandar said the positive start to the Reit's financial year is encouraging, supported by the strategic diversification of portfolio and prudent cost management. "Our retail assets are now consistently recording positive rental reversions, while our education asset continues to provide consistent income. "These results reflect our continued discipline in maintaining stable returns and strengthening the resilience of our portfolio," he added, The company remains optimistic on the value enhancements to be generated by its retail assets upon completion of asset enhancement initiatives and strategic leasing initiatives. It noted that early gains are already seen in elevated occupancy rate which currently stands at 85.6 per cent, positive rental reversions and higher footfall, boosting yields across Hektar malls. It added that the acquisition of a 15-year master-leased industrial asset in Bayan Lepas Free Industrial Zone is progressing as planned and is poised to further diversify and strengthen the Reit's income profile. Hektar Reit's total assets stood at RM1.44 billion as at March 31, 2025, while the net asset value per unit was RM1.0396. Hektar Reit's portfolio of diversified properties includes Subang Parade in Selangor, Mahkota Parade and Kolej Yayasan Saad in Melaka, Wetex Parade & Classic Hotel and Segamat Central in Johor, as well as Central Square and Kulim Central in Kedah.
New Straits Times
02-05-2025
- Business
- New Straits Times
Hektar Reit's education asset scores stellar SPM results
KUALA LUMPUR: Hektar Asset Management Sdn Bhd says Kolej Yayasan Saad's (KYS) performance in the 2024 Sijil Pelajaran Malaysia (SPM) examinations underscores the school's dedication to academic excellence and holistic development. Hektar Asset is the manager of Hektar Real Estate Investment Trust (Hektar Reit), which bought KYS campus in Melaka late last year. The acquisition was completed in the third quarter of 2024, in line with Hektar Reit's portfolio diversification strategy. KYS maintained its position as one of Malaysia's top-performing schools, ranking 9th nationwide based on the Ministry of Education's results. About fifty per cent of its students achieved straight As in the SPM examinations. Furthermore, 50 per cent of students from the previous cohort received full scholarships for tertiary education, demonstrating the school's continued success in nurturing high-achieving, future-ready individuals. Hektar Asset chief executive officer Zainal Iskandar said the achievement reflects KYS' academic strength, emphasis on leadership and consistent pursuit of excellence. "For Hektar Reit, KYS' remarkable achievements exemplify the importance of high-quality education infrastructure in shaping Malaysia's future leaders. "We remain committed to investing in resilient assets that create long-term value while supporting national development goals," he added.
New Straits Times
02-05-2025
- Business
- New Straits Times
UDA holdings names Johari Shukri as new president, CEO
KUALA LUMPUR: Johari Shukri Jamil has been appointed as the UDA Holdings Bhd president and chief executive officer (CEO), effective immediately. With over 28 years of extensive experience in corporate leadership, UDA said Johari has built a diverse career across key sectors including property and construction, real estate investment, industrial development, logistics, oil and gas, and engineering. "His proven track record in driving transformational change and creating long-term value positions him well to lead UDA into its next phase of strategic growth and development," it added. UDA chairman Tan Sri Mohd Annuar Zaini said the appointment was made with the endorsement of the Ministry of Finance (MOF) and Entrepreneur and Cooperative Development Ministry. "We trust that Mr Johari will bring fresh ideas and innovation through new dimensions, methods and approaches, while remaining aligned with UDA's founding objectives to support the socio-economic development agenda of the Bumiputera community," he said in a statement. Prior to joining UDA, Johari served as the group managing director of Pasdec Holdings Bhd and executive director cum CEO of Hektar Asset Management Sdn Bhd, the asset manager for Hektar Real Estate Investment Trust (Hektar Reit). Under his leadership, Hektar Reit navigated its post-pandemic recovery, spearheaded growth and diversification initiatives and returned to profitability. Johari also held several other key positions, including executive vice president of business development and the transformation office at Iskandar Investment Bhd; group chief operating officer of EA Technique (M) Bhd, CEO and executive director of Tanjung Langsat Port Sdn Bhd and various senior roles within Johor Corporation.
