HEKTAR ASSET MANAGEMENT ANNOUNCES RESIGNATION OF CEO

• Effective 11 June 2024, Johari steps down to pursue new opportunities.
  
• Hektar REIT to continue growth and diversification strategies

Kuala Lumpur, 11 June 2024 – Hektar Asset Management Sdn. Bhd. (“Hektar Asset Management”), the manager of Hektar Real Estate Investment Trust (“Hektar REIT”), today announced the resignation of its Executive Director & Chief Executive Officer (CEO), En. Johari Shukri bin Jamil, effective 11 June 2024.

Johari, 52, who has served as CEO since 11 June 2022, is stepping down to pursue other professional opportunities. The board extends its heartfelt appreciation to Johari for his contributions and leadership during his tenure and wishes him the very best in his future endeavours.

"The board extends its sincere thanks to En. Johari for his service and commitment in enhancing value to our Unitholders. His leadership in the aftermath of the pandemic revived our profitability and restored confidence in Hektar REIT. We wish him every success in his future endeavours," said the board in a collective statement.

Prior to being CEO, Johari was appointed as a Non-Independent Non-Executive Director of Hektar REIT in February 2022. With over 20 years of extensive corporate experience in real estate, industrial development, logistics, and engineering, Johari has been instrumental in steering Hektar REIT through the post-pandemic recovery and spearheading growth.

During his tenure, Johari worked closely with the board and management team to define and execute Hektar REIT’s overall strategy, overseeing strategic development and day-to-day operations.

Hektar REIT remains committed to navigating an increasingly competitive retail landscape by diversifying its asset portfolio. As part of this diversification, Hektar REIT planned its first non-retail acquisition, Kolej Yayasan Saad Melaka (KYSM), a fully residential and co-educational private school that offers quality education, with completion expected by June this year.

Hektar REIT is actively pursuing an investment pipeline that will increase its Assets Under Management (AUM), revenue and valuations to provide long-term sustainable growth for our Unitholders.