Hektar Asset Management Sdn Bhd, the Manager of Hektar Real Estate Investment Trust (Hektar REIT), announces the conclusion of its 13th Annual General Meeting (AGM) on 21 May 2025 at M Resort & Hotel, Kuala Lumpur.
Unitholders received the Annual Report for the financial year ended 31 December 2024, showcasing the Group’s strong financial performance and evolving portfolio strategy. In 2024, Hektar REIT began diversifying beyond retail assets by acquiring an education-related property and planning to expand into the industrial sector in 2025.
Hektar REIT issued the first tranche of its Medium-Term Note (MTN) programme worth RM215 million, enhancing funding accessibility. In an ambitious ESG initiative, Hektar REIT partnered with Samaiden Group Berhad to implement solar projects at five shopping centers, promising annual savings of RM2.05 million and a reduction of carbon emissions by 98,640 tonnes.
Additionally, a comprehensive asset enhancement initiative (AEI) at Subang Parade is underway, with Phase 1 interior upgrades set for completion by Q1 2026, aimed at enhancing customer experience and long-term asset performance.
Zainal Iskandar, Executive Director and Chief Executive Officer of Hektar Asset Management, said, “The Manager respects the voice of the unitholders and will take the outcome as guidance in recalibrating its capital management strategies going forward. FY2024 was transformative—from expanding into new asset classes to enhance operational performance through strateigc cost optimisation initiatives and prudent capital manaagement. Our rooftop solar project, in particular, represents a bold leap toward sustainable energy and long-term value creation. The Manager respects the views and feedback received from our unitholders in a very transparent setting as the AGM today, and will take, as we always have, full cognizance of the unitholders’ interest in long-term value creation as we recalibrate our capital management strategy going forward.”
The unitholders also have the Manager’s assurance that we are proactively reviewing our strategic direction and enhance operational efficiency to build a resilient portfolio with sustainable recurring income. Ongoing measures have been taken and are further amplified to improve asset performance, strengthen and optimise tenant mix, and enhance unitholder value. The Manager remains committed to transparency and delivering sustainable long-term returns.
He added, “Looking ahead, our priorities remain unchanged: to deliver sustainable distributions, elevate asset quality, and deepen ESG integration. With a future-ready mindset, we are confident in our path to building a more resilient, diversified, and purpose-driven REIT”.
Hektar REIT will keep using its diverse asset strategy to acquire profitable assets, maintain a strong capital structure, and focus on ESG initiatives to provide lasting value to unitholders, while working to create vibrant, sustainable communities in Malaysia.