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Wednesday, February 6, 2008

Hektar REIT pays higher dividends

KUALA LUMPUR: Hektar Real Estate Investment Trust has announced that the dividend per unit for the 13-month period ended Dec 31, 2007 would be 10.71 sen, 11.2% higher than it had forecast in its prospectus.

In a statement, it said gross revenue for the year reached RM78.3mil, which was 5% above forecast and net income (realised) stood at RM36.7mil.

Hektar REIT, managed by Hektar Asset Management Sdn Bhd, reported net income per unit of 11.46 sen, which was 19% higher than forecast when the REIT was launched in December 2006.

“We are happy with our full year results for 2007,” said chief executive officer Datuk Jaafar Abdul Hamid.

“Our net income exceeded our budget forecast, allowing us to distribute to our investors a larger dividend than expected, about 11.2% higher than what we promised.”

Hektar REIT's shopping mall portfolio continued to hold steady with almost full occupancy of 96.9%, of which Subang Parade is 99.9% occupied and Mahktota Parade, 93.9% occupied.

Traffic for Subang Parade increased to 7.8 million visits in 2007, up 32.6% since its refurbishment in 2006 while Mahkota Parade's traffic edged up 2.1% to 8.8 million visits in 2007.

By The Star

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