HEKTAR Real Estate Investment Trust (REIT) has reported gross revenue of RM18.33 million and net property income of RM11.74 million for its third quarter ended September 30 2007.
Hektar REIT, managed by Hektar Asset Management Sdn Bhd, reported earnings per unit of 2.78 sen, 25.3 per cent higher than the earnings forecast when the REIT was launched in December last year.
Year-to-date performance for Hektar REIT for the 10-month period showed earnings reaching 8.95 sen per unit, up 20.8 per cent over prospectus budget, the company said in a statement.
Hektar Asset Management's chief executive officer Datuk Jaafar Abdul Hamid said Hektar REIT plans to distribute to unitholders 9.6 sen for the 13-month period ending 2007 or 90 per cent of actual earnings, whichever is higher.
On the intermediate outlook, Jaafar said: "We continue to make progress on our growth strategy in terms of organic growth within our portfolio, third-party acquisitions and Hektar Group's greenfield and redevelopment projects."
By Bernama
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