KUALA LUMPUR, March 1 (Bernama) — Hektar Real Estate Investment Trust (“Hektar REIT”) announced its annual results for Financial Year 2018 (“FY18”) with revenue rising to RM135.1 million, up 7.6% higher compared to the same period in the preceding year, while Net Property Income (NPI) climbed to RM78.7 million, a 6.8% increase. For the twelve months ended 31 December 2018, the Realised Income was recorded at RM42.3 million which was 5.3% higher than FY2017. Overall, the market valuation of the Hektar portfolio increased by RM26.9 million in 2018. The positive result is supported by strong portfolio performances, particularly from assets outside the Klang Valley, buoyed by the post-refurbishment asset enhancement initiatives in the Kedah malls and positive rental reversion growth in Melaka and Muar.
For the fourth quarter ended 31 December 2018, the REIT recorded higher revenue of RM33.9 million, an increase of 1.3% compared to the corresponding period in 2017 (“4Q17”). Net Property Income recorded was RM20.3 million, a small variation from the RM20.9 million in 4Q17. The Realised Income before taxation grew to RM12.0 million, showing a marginal increase of 1.8% from 4Q17.
