Classic Hotel, Muar, Johor The 10 year lease for the Classic Hotel building granted to Wetex Realty Sdn Bhd (“Lessee”) expired on 29 April 2018. Despite having an option to renew the lease for a further 5 year period, the Lessee decided not to exercise its option to renew the lease upon expiry of the lease period. The management of Hektar REIT had recently explored and reviewed several proposals from potential hotel operators to take over the operations and business of the hotel and also from potential purchasers to acquire the hotel building but have decided to appoint Hektar REIT’s exclusive property management company, Hektar Property Services Sdn Bhd (“HPSSB”) to take over and manage the operations and business of the hotel, currently known as “Classic Hotel”.
Classic Hotel has ceased its business operations on 1 May 2018 and will soon undergo a major refurbishment and rebranding exercise with a targeted hotel reopening or launch date in Q4 2018.
Entitlement Amt (RM/%): RM 0.023 Entitlement Date & Time: 4 Sep 2018, 17:00 Year/Period Ending/Ended on 31 Dec 2018 Ex-Date :30 Aug 2018 Payment Date: 24 Sep 2018 Share transfer book & register of members will be closed from 4 Sep 2018 to 4 Sep 2018 (both dates inclusive) for the purpose of determining the entitlements
Shopping malls oversupply everywhere in M'sia. Some will close down.
Posted by md1961 > Sep 21, 2018 04:19 PM | Report Abuse ks55 what makes you come to that conclusion to run asap? RM 1 will come - what do you mean by that??
I think Sogo Shopping Mall are very successful because they kept the mall up-to-date with what consumers wants. They have done active sales and promotions... and upgraded their food court.
Hektar - need to keep abreast with the ever changing shopping life style to meet the taste of the consumer around their locality
So I still think shopping mall are still relevant.
Had a chance to work with Hektar, they done a lot of initiatives to cut down the opex and actively seeking to buy more assets. Now is good time to accumulate some.
@BanyakSui Either you bull shit or you must have gone to a wrong mall. Hektar 2017 annual report said that its malls occupancy rates are ranging from 90% to 100%. 2018 q1 and q2 reports showed revenue increase and it was reflected on the dividends. Numbers speak.
@idunwork u sure ?? what about 2018 ??? by end of 2018 there is quite numbers of shop lot contract expired ...... what will happen ??? hope they renew and continue rent. XD
@madguy. The best way to confirm is to go visit the malls you invested yourself. Normally tenants prefer to extend contract if the business makes money. Hektar has a flexible way of charging its rental to ensure win win.
Those buying never do proper analysis. Hektar shopping malls is not like those in Sunway Pyramid or MidValley. Empty shoplots can see elsewhere in M'sia a lot.
@BN_better where got lowest ??? revenue not bad ... maintain. and i dont know where this -7.02% came from ??? overall still batter then 2017..... the only challenage year is next year.
This is the new management team. Old management (lead by ex-Malay Boss) team appear left already. I believe Singapore Shareholder Fraser has greater control nowaday. A lot of thing seem has changed.
Compare with previous ex-team ceo letter, the current team letter appear much more informative. Some interesting points noted in the letter: 1. For 2018, our portfolio rental reversions recorded a positive 5.4%, 2.'Three of our malls are “the only mall in town”, while the other three are the “leading malls in town” 3. 'We believe that ultimately, a ‘network’ of neighbourhood malls strategically located throughout Malaysia would serve as an ideal ‘platform’ for emerging brands'
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3141 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
painter
61 posts
Posted by painter > 2018-03-20 23:40 | Report Abuse
Since Federal reserve is going to increase interest rate,I Will wait till price drop.