Hektar REIT sees gain of RM41.6 mil from revaluation of six assets

KUALA LUMPUR (Feb 8): Hektar Real Estate Investment Trust (Hektar REIT) said it carried out a revaluation on six of its investment properties, resulting in a net fair value gain of RM41.6 million.

The total value of the six properties — Subang Parade, Mahkota Parade, Wetex Parade,Central Square, Kulim Central, and Segamat Central — rose to RM1.206 billion at at Dec 31, 2022, from RM1.165 billion previously.

The net asset per unit rose to RM1.269, from RM1.188.

“The purpose of the revaluation exercise was to ascertain the current market values of the properties for accounting purposes, pursuant to Malaysian Financial Reporting Standard (MFRS) 140: Investment Properties,” Hektar REIT said in a filing to the stock exchange.

Hektar REIT units closed 0.70% or half sen higher at 72 sen on Wednesday (Feb 8), giving it a market capitalisation of RM334.54 million.