Hektar REIT's property in Muar, Johor - Wetex Parade

Hektar REIT has reported a distribution per unit (DPU) of 3.30 sen for its 4Q 2017, an increase of 22.2% over the 2.7 sen achieved in the corresponding period of the previous financial year.

The REIT’s revenue for the quarter came in at MYR33.4 million (USD8.4 million), an increase of 7% year-on-year from 2016, while net property income (NPI) rose by 12% year-on-year to MYR20.9 million.

Hektar REIT has attributed these figures largely to the completion of the acquisition of 1Segamat Shopping Centre, which is now known as ‘Segamat Central’, on 18 September 2017, which injected approximately 220,000 square feet additional net lettable area into its portfolio.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.