Hektar-reit’s net profit up in 3Q22

PETALING JAYA: Hektar Asset Management Sdn Bhd, the manager of Hektar Real Estate Investment Trust (Hektar-reit), is actively exploring avenues for growth by ensuring a strong portfolio of retail brands in its malls.

In the third quarter ended Sept 30 (3Q22), Hektar-reit’s net profit jumped to Rm13.50mil from Rm1.4mil a year earlier, while revenue for the period jumped 62.4% to Rm31.06mil, mainly due to the increased rental income, including higher turnover rent, increased car park income and higher hotel rates.

Basic earnings per share stood at 2.87 sen versus 0.30 sen a year earlier.