Hektar Asset Management Sdn Bhd, the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”), is pleased to announce the conclusion of its 13th Annual General Meeting (“AGM”) held on 21 May 2025 at M Resort & Hotel, Kuala Lumpur.
At the AGM, unitholders received the Annual Report for the financial year ended 31 December 2024, which highlighted the Group’s resilient financial performance, evolving portfolio strategy, and growing momentum in Environmental, Social and Governance (ESG) initiatives.
In line with its long-term value creation strategy, 2024 marked a turning point as Hektar REIT embarked on a strategic diversification beyond retail assets. The Trust completed the acquisition and leaseback of a yield-accretive education-related property, marking its entry into the non-retail segment.
This was followed by steps to expand into the industrial sector in 2025, reflecting a focused effort to broaden income streams and strengthen the REIT’s portfolio resilience.
Leveraging on its strong fundamentals, Hektar REIT successfully issued the first tranche of its Medium-Term Note (MTN) programme worth RM215 million, under a total nominal value of RM500 million.
The issuance which is guaranteed by the Credit Guarantee & Investment Facilities, a trust fund of the Asian Development Bank, provides Hektar REIT with access to efficient funding.
Furthering its ESG ambitions, Hektar REIT entered into a landmark partnership with Samaiden Group Berhad to implement solar project at five of its shopping centres.
The initiative is projected to deliver long-term energy cost savings of approximately annual savings of RM2.05 million or RM41.3 million over 20 years and reduce carbon emissions by an estimated 98,640 tonnes, equivalent to planting over a total of 1,972,800 trees over 20 years. This initiative underscores Hektar REIT’s commitment to sustainable operations and climate impact mitigation.
As part of its continuous asset rejuvenation efforts, Hektar REIT has embarked on a comprehensive asset enhancement initiative (AEI) at Subang Parade. Interior upgrades under Phase 1 are expected to be completed by Q1 2026, aiming to elevate customer experience, tenant value, 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 continue to leverage its diversified asset strategy with acquisition of yield-accretive assets, sound capital structure, and ESG-led initiatives to deliver enduring value to unitholders, while advancing its mission to build vibrant, sustainable communities across Malaysia.
For more information, please visit www.HektarREIT.com
