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

Hektar REIT recorded revenue of MYR26.78 million for its 1Q 2021, 12.8% lower than the MYR30.71 million recorded in the same quarter of the preceding year.

The reported revenue fell mainly due to lower rental income, carpark income and hotel occupancies on the back of COVID-19-related mobility restrictions across Malaysia.

Accordingly, Hektar REIT's net property income of MYR14.09 million for the quarter decreased by 10.3% compared to the MYR15.71 million recorded in 1Q 2020.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.