Kuala Lumpur, August 2018 – Hektar Asset Management Sdn Bhd, the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”) is pleased to announce that Hektar REIT has recently been honoured with a Gold Award in ‘Retail REIT’ category at the Asia Pacific Best of The Breeds REITs Awards.
Hektar REIT was one of the 22 top Asian REIT players awarded top honours at the event, triumphing over various other REITs in the region under the same category. The scoring methodology is based on a number of attributes with assigned weightages to credit ratings, gearing, market cap, yield, weighted asset lease expiry or WALE, quality of manager, Year to Date returns and distribution per unit or DPU and the sustainability of the REIT.
The award presentation ceremony took place at Sheraton Towers Hotel, Singapore, where Guest of Honour, Professor Tien Foo Sing, Dean’s Chair Associate Professor and Director of the Institute of Real Estate Studies (IRES), presented the award to Dato’ Hisham bin Othman, Chief Executive Officer of Hektar Asset Management Sdn Bhd. The prestigious recognition event was held in conjunction with the 5th Asia Pacific Conference 2018 and was attended by over 150 delegates from the region.
Dato’ Hisham said, “We are honoured to receive this prestigious award and we would like to express our appreciation to The Pinnacle Group International and the selection committee in recognising our efforts. We will continue to place great emphasis in what we do, growing Hektar REIT and forming a solid and defensible portfolio to create stable and sustainable value to our stakeholders while providing Malaysian consumers with conducive retail environments based on international best practices.”
“We are also pleased that our shareholder, Frasers Centrepoint Trust Singapore emerged as Platinum winner under Retail REIT (Singapore) More than 1 Billion Market Capitalization category and would like to congratulate them for their outstanding achievement,” added Dato’ Hisham.
Hektar REIT’s portfolio consists of mostly neighbourhood shopping centres, which in general are more resilient and defensible during economic downturns. Hektar REIT’s total portfolio has a combined net lettable area of 2.0 million square feet and has a healthy 94% overall occupancy. Hektar REIT’s portfolio of shopping malls include Subang Parade in Subang Jaya, Selangor, Mahkota Parade in Melaka, Wetex Parade in Muar, Johor, Central Square in Sungai Petani and Kulim Central in Kulim, Kedah, and Segamat Central, Segamat, Johor. The portfolio’s catchment serves a market size of 3.0 million shoppers.