Highlights
KLSE: HEKTAR (5121)       HEKTAR REAL ESTATE INVESTMENT TRUST MAIN : REITS
Last Price Today's Change   Day's Range   Trading Volume
0.615   -0.02 (3.15%)  0.60 - 0.635  303,000
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Overview

Market Cap: 284 Million
NOSH: 462 Million
Avg Volume (4 weeks):237,635
4 Weeks Range:0.60 - 0.67
4 Weeks Price Volatility (%):
21.43%
52 Weeks Range:0.55 - 1.03
52 Weeks Price Volatility (%):
13.54%
Average Price Target: 1.05
Price Target Upside/Downside: +0.435

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2020 [#1]  |  22-May-2020
Next QR | Est. Ann. Date: 30-Jun-2020  |  28-Aug-2020
T4Q P/E | EY: 29.58  |  3.38%
T4Q DY | Payout %: 11.98%  |  354.50%
T4Q NAPS | P/NAPS: 1.3145  |  0.47
T4Q NP Margin | ROE: 7.14%  |  1.58%

Headlines

Date Subject
29-May-2020 PublicInvest Research Headlines - 29 May 2020
06-May-2020 KLCCP Stapled Group - 1QFY20 Within Expectations
06-Mar-2020 [转贴] 天哥看产托 第10集~产托里的股息王~HEKTAR ~ 第一天
03-Jan-2020 【视频】贺达产托 周息率仍诱人
30-Dec-2019 Hektar REIT - Merry Yield & Happy Yule
29-Oct-2019 现是买进产托好时机?(1)

Business Background

Hektar Real Estate Investment Trust is a retail focused REIT. Hektar REIT's principal objective is to provide its Unitholders with a defensible income distribution and to enhance the long-term value of the fund. It invests in income-producing real estate primarily used for retail purposes. Hektar REIT's portfolio currently consists of shopping centres situated in Subang Jaya, Melaka, Muar, Sungai Petani and Kulim.
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bankrupt HEKTAR BLACK SDN BHD 02-Jul-2019 Disposed 350,000 0.000 View Detail
HEKTAR BLACK SDN BHD 01-Jul-2019 Disposed 154,000 0.000 View Detail
HEKTAR BLACK SDN BHD 28-Jun-2019 Disposed 257,000 0.000 View Detail
HEKTAR BLACK SDN BHD 27-Jun-2019 Disposed 552,300 0.000 View Detail
HEKTAR BLACK SDN BHD 26-Jun-2019 Disposed 173,300 0.000 View Detail
HEKTAR BLACK SDN BHD 25-Jun-2019 Disposed 122,400 0.000 View Detail
HEKTAR BLACK SDN BHD 24-Jun-2019 Disposed 200,000 0.000 View Detail
HEKTAR BLACK SDN BHD 21-Jun-2019 Disposed 150,000 0.000 View Detail
HEKTAR BLACK SDN BHD 20-Jun-2019 Disposed 214,200 0.000 View Detail
HEKTAR BLACK SDN BHD 19-Jun-2019 Disposed 153,300 0.000 View Detail
HEKTAR BLACK SDN BHD 18-Jun-2019 Disposed 150,000 0.000 View Detail
HEKTAR BLACK SDN BHD 17-Jun-2019 Disposed 200,100 0.000 View Detail
HEKTAR BLACK SDN BHD 14-Jun-2019 Disposed 250,000 0.000 View Detail
HEKTAR BLACK SDN BHD 13-Jun-2019 Disposed 150,000 0.000 View Detail
HEKTAR BLACK SDN BHD 12-Jun-2019 Disposed 200,000 0.000 View Detail
HEKTAR BLACK SDN BHD 11-Jun-2019 Disposed 200,000 0.000 View Detail
HEKTAR BLACK SDN BHD 14-May-2019 Disposed 550,000 0.000 View Detail
HEKTAR BLACK SDN BHD 13-May-2019 Disposed 100,000 0.000 View Detail
HEKTAR BLACK SDN BHD 09-May-2019 Disposed 500,000 0.000 View Detail
https://klse.i3investor.com/servlets/stk/annchsh/5121.jsp
30/08/2019 11:44 AM
besos 0.5 TP. Run.
30/08/2019 11:58 AM
chamlo Declining cash balance and net current liabilities behind Hektar Black disposing?
04/09/2019 3:58 AM
chamlo 20 more Giant and Cold Storage stores to close?
https://www.theedgemarkets.com/article/more-giant-stores-closing
04/09/2019 4:03 AM
chamlo On 17 July 2019, having heard submissions from both parties’ counsels at the hearing of the
application for stay of execution, the High Court granted the following orders:
a. a conditional stay of execution in favour of The Store subject to the payment of
double rental in the sum of RM5,518,811.88 to be deposited by The Store into a
joint stakeholders account of Hektar REIT’s solicitors (Messrs Han & Partners) and
The Store’s solicitors (Messrs Gideon Tan Razali Zaini) within 30 days from 17 July
2019 i.e. on or before 16 August 2019;
https://cdn1.i3investor.com/my/files/st88k/5121_HEKTAR/qr/2019-06-30/5121_HEKTAR_QR_2019-06-30_Hektar%20-%202nd%20Quarterly%20Results_-265104152.pdf
04/09/2019 4:12 AM
celaka91 cn buy???
11/09/2019 7:12 AM
derricksyl Major tenant all out .....
13/09/2019 10:58 AM
celaka91 price can up agn?
21/09/2019 4:09 PM
tolan84 drop again is mean can buy more hahaha keep more play for dividends.
23/09/2019 11:17 PM
sell Tomei moving out from Subang Parade why promoters never tell?
25/09/2019 11:34 PM
Buybuybuy88 Any good news on hektar?
17/10/2019 1:15 PM
Keelip Danny Family Store replacing Giant Mahkota Parade opening today. For those who r not familiar with FS, it is a regional grocery retailer like NSK
17/10/2019 3:57 PM
ttt what about subang parade ? anything replacing the cold storage?
18/10/2019 11:38 AM
patling63 EventHallspecial
20/10/2019 1:09 PM
ahbah Hektar is so cheap, get in now. Such golden opportunity will never

come again !
20/10/2019 5:01 PM
ttt they have so much space now for event hall special.. i believe below parkson there is a hall which they curently use for rojak space
21/10/2019 11:54 AM
smallfishyu Hektar Asset Management Sdn Bhd CEO Datuk Hisham Othman (pic), however, declined to divulge further information on the retail asset but reiterated that the Reit’s strategy is to own geographically diverse malls that are yield accretive.

“This strategy has been proven well and the future malls that we acquire will most likely be situated outside the Klang Valley, as the Klang Valley is saturated with overbuilt malls or retail assets,” he said after the REIT’s AGM.
31/10/2019 12:13 PM
getingreal "Strategy has been proen well" Dato' Othman is qutoed as stating. Proven well for whom? The share price has plunged over 10 years, the DPU has plunged also. Within that same period the sahe price has plunged from 1.56 to 99cents! Below Par!!! The only person that has done well is the manger whos fees have increased from RM3.7 Mill to RM8.4 million over the same period! Dato' please look at the plight of your shareholders before boasting how well you are doing!
13/11/2019 11:46 AM
getingreal Hektar Reit Unit price at the end 2009 was RM 1.12, Unit price at the end 2019 was RM 1.11, In 2009 Managers fees were 3,790,195 and 2019 they had skyrocketed up 223% to 8,443,864
In the same period the DPU had dropped significantly from 10.5 Cents. to 9.01 Cents.

Managers fees have risen in all but one year since 2009, however DPU stayed flat at 10.5 cents each year till 2017, then it started to drop. Despite DPU dropping, the mangers fees continues to climb. Clearly the Managers Hektar Asset Management Sdn Bhd have been focused on their fees rather than Unit holder DPU!

REIT Managers are ever keen to acquire more and more properties which increases their fees if badly run its at the cost of the DPU.

Looking at the published Audited Annual Reports

Year DPU cents Manage fee 31 Dec price
2009 10.30 3,790,195 1.12
2010 10.30 5,507,311 1.35
2011 10.50 5,760,257 1.32
2012 10.50 6,500,653 1.46
2013 10.50 7,582,051 1.50
2014 10.50 7,634,898 1.49
2015 10.50 7,927,254 1.52
2016 10.50 7,791,596 1.56
2017 9.60 7,905,354 1.30
2018 9.01 8,443,864 1.11
20/11/2019 10:59 PM
getingreal Yippy68 the Fees have risen 227%! not 127%
20/11/2019 11:01 PM
getingreal Hektar Asset Management Sdn Bhd CEO Datuk Hisham Othman is quoted as saying “This strategy has been proven well" Well it hasnt for the Unit holder but it clerly has for him and his company Hektar Asset Management Sdn Bhd. In fact if you bought Units in 2013 then after crediting all the DPUS since then you would be at a loss today . the DPUs have not even been able to keep up with the drop in the Unit price. "PROVEN WELL" !
20/11/2019 11:07 PM
lck1300 seem like pick up the pace , add oil
27/11/2019 8:32 PM
ahbah Now, Hektar ... an excellent buy !
27/11/2019 8:35 PM
idunwork Hektar pays 7.8% dividend. Giant was replaced by a new tenant. Hopefully all upgrade work will be done soon so that earning will increase more.
28/11/2019 10:06 AM
ttt whats the point of growing revenue is the expenses are growing like 6x faster than revenue
28/11/2019 12:53 PM
patling63 Important thing revenue must grow first. The focus on cost-cutting. Should be all right if they continue to work at it
30/11/2019 3:41 PM
ivan9511 Start buying this and arreit .
Arreit and hektar besides dividend in future hope can see prices limit up
QR quite good
02/12/2019 3:43 PM
getingreal 2016 Div total 10.50 cents, Management fees 7,791,596, end of year share price 1.56

2017 Div total ..9.60 cents, Management fees 7,905,354, end of year share price 1.30

2018 Div total ..9.01 cents, Management fees 8,443,864, end of year share price 1.11

2019 Div total ..8.04 cents Management fees (yet to be announced), share price only 99c.

(Div total for 2019 inclusive of just announced but yet to be paid distribution)
05/12/2019 5:25 PM
ttt higher management fee = falling dividend and falling share price. some one should raise this and stop them from revaluing upwards their building values cause its a % of assets under management.
06/12/2019 4:26 PM
ragesliew What happen to this quarter results ? Doing well ?
07/02/2020 9:07 PM
getingreal Due 28th Feb.
14/02/2020 11:24 AM
ttt best denki opening sale tomorrow, and village grocer coming in July to Subang Parade. Happy that efforts are being put in to revitalise SP.
20/02/2020 10:06 AM
idunwork @ragesliew
Today's trading shows sign of anticipating better quater report . Keep fingers cross!
24/02/2020 4:20 PM
idunwork Realised nett profit equals to 2 sen a share. Satisfy with 2 sen dividend.
26/02/2020 10:02 PM
ahkiang hmm what that mean ?

Tax expense : -
Hektar REIT has provided Deferred Tax Liability of RM28.2 million calculated based on RPGT
at a rate of 10% on the net fair value gain of five (5) investment properties which comprised
of Subang Parade, Mahkota Parade, Wetex Parade along with Classic Hotel, Central Square
and Kulim Central.

have to pay one by reit or @@?
27/02/2020 8:54 PM
ttt i'm not an expert but its non cash payment. they only made a provision for it.
28/02/2020 9:51 AM
netcrok Anyone know why this Quarter Net Profit dropped to negative (-18,955) ?
29/02/2020 12:43 AM
David Teh I hold this counter for years. And it drop all the way from 1.60 to 0.935 as at today. I never thought of losing so much by investing in REIT. Can the management tell how much more to drop?
03/03/2020 1:03 AM
sell 2 weeks MCO so much sales drop how about 2 months MCO next qtr?
24/05/2020 6:42 AM
mf selamat hari raya
24/05/2020 6:44 AM
getingreal Earnings per share reduced to 1.53 sen from 1.93 sen previously. Hektar REIT has decided not to declare a first interim distribution per unit in the current quarter.
27/05/2020 4:44 PM
getingreal I guess not enough cash left to distribute after taking 8.4 million p.a in Management fees!
27/05/2020 4:46 PM
handsome5555g Just hold tight and collecting more. When the announcement comes out, then BOOM ! fly to the sky
08/06/2020 2:17 PM
Bligjt With the handling of tenants and rent during MCO, more tenants are going to bankrupt and close shop
11/06/2020 6:57 PM
getingreal I assume Datuk Hisham Othman private Management company Hektar Asset Management Sdn Bhd and its CEO will forgo its seven millions a year in management fees its leaching off Hektar to help out? If not then flush the Hektar shares down the loo.
29/06/2020 6:49 PM
MoneyMoneyHome2019 Why no dividend?
07/07/2020 9:57 AM
getingreal 8.4 million p.a in Management fees!
07/07/2020 1:52 PM
e1zzz Due to the grant of a temporary deferment of all profit payments to our financiers, Malayan Banking Berhad and Maybank Islamic Berhad, from April 2020 to September 2020 (“Moratorium Period”), Hektar REIT is prohibited from paying out any dividends to its unitholders until full settlement of the deferred interest/profit payments on all financing facilities for the Moratorium Period.

Taken from latest quarterly report
09/07/2020 11:21 PM
getingreal The quarterly report does not item disclose the Management fees being taken, I wonder why?
In deciding to take advantage of the Bank loan Moratorium and temporarily defer accumulating interest payments till later, Hektar management has not only used this as an excuse not to pay DPU but has now caused Unit Holders to loose the tax free status on the DPU and will now have 10% deducted from the future distribution. The DPU would have been tax free otherwise. A hefty price for unit holders to pay for a deferment of a few months of interest that is accumulating for later payment.
13/07/2020 9:53 AM
BuZiDao I am holding a very small amount of share for a decade. As a layman point of view. I can see the shares value is dropping yearly, the dividends also dropping yearly. I still haven't get back my cost. Do you think DY looks attractive now? I don't think so. Its could be a trap. Lets observe after the MCO. Will the management really got the super power to bring it back to alive.
24/07/2020 8:03 PM


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