KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) posted a revenue of RM96.60 million for the financial year ended 31 December 2021 (FY21) down by 13.1 per cent compared to the same period last year.
For the fourth quarter (Q4) FY21, Hektar REIT recorded revenue of RM24.98 million, which is 16.2 per cent lower compared to the same quarter last year.
Hektar REIT registered a net property income of RM12.38 million for Q4, which is a slight increase of 0.2 per cent compared to the same quarter last year, while realised income for Q4 2021 was 185.5 per cent higher at RM3.21 million compared to the RM1.12 million recorded in Q4 2020.
Moving on, Hektar REIT is overcoming the challenges posed by Covid-19 and continues to attract new tenants while renewing leases with existing tenants.
Based on economic recovery and policy support, management is cautiously optimistic about the retail industry's outlook.
Hektar REIT said there are signs of revival, as seen by the gradual reopening of the economy and the steady increase in visitor footfall since the government eased restrictions.
Despite the economy's improved growth trajectory, which is supported by a recovering labour market, continued policy support, and expansion in external demand, as well as the possibility of opening international borders as early as the second quarter, Hektar REIT maintains its cautious outlook in the face of the current wave of Omicron-related infections.
Since 2017, Hektar REIT has implemented several energy efficiencies and optimisation programmes across all of its shopping malls, resulting in considerable reductions in greenhouse gas emissions and energy consumption over the last five years.