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Tuesday, February 14, 2012

Hektar REIT net income up 121pc

KUALA LUMPUR: Hektar Asset Management Sdn Bhd says its Hektar Real Estate Investment Trust (Hektar REIT) net income increased by 121 per cent to RM86.7 million, or 27.08 sen per unit, last year.

The gain was attributed to the revaluation of its investment properties, it said yesterday.

Revenue was up by 4.4 per cent to RM94.9 million. As of December 31, 2011, Hektar REIT's net asset value was RM1.48 per unit.

Hektar REIT's portfolio includes Subang Parade in Subang Jaya, Mahkota Parade in Malacca and Wetex Parade in Muar.

Last year, the portfolio had an average occupancy of 97.5 per cent.

By Business Times

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