The shared virtual world will feature characters from popular games like Pac-Man, Dark Souls, and Gundam. Bandia Namco, the Japanese video game and toy company with massive global appeal, recently announced plans to commit a whopping 13 billion yen ($130M USD) towards the development of a new “metaverse” experience dedicated to its most popular gaming […]
Whether you’re allocating resources more efficiently for web traffic, forecasting patient demand for staffing needs, or anticipating sales of a company’s products, forecasting is an essential tool across many businesses. One particular use case, known as cold start forecasting, builds forecasts for a time series that has little or no existing historical data, such as […]
KUALA LUMPUR, Feb 25, 2022 - (ACN Newswire) - Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust ("Hektar REIT"), today announced Hektar REIT's annual results for the financial year ended 31 December 2021 ("FY2021") with revenue at RM96.60 million in FY2021, down by 13.1% compared to the same period in the preceding year. Property Operating Expenses reduced by RM8.59 million or savings of 14.8% compared to the previous year. Net Property Income (NPI) was reported at RM47.02 million, a decline of 11.2% compared with 2020. FY21 was a challenging year for the retail sector due to the COVID-19 pandemic and implementation of various Movement Control Orders, National Recovery Plan, mobility restrictions & closure of non-essential businesses for an extended period. Despite these challenges to the malls, the REIT managed to attract new & secured existing tenants covering 39.2% of Hektar REIT's Net Lettable Area ("NLA") in FY21.
One of Hektar REIT’s regional malls, Mahkota Parade, Melaka
For the fourth quarter ended 31 December 2021 ("4Q 2021"), Hektar REIT recorded revenue of RM24.98 million, which is 16.2% lower compared to the same quarter of the preceding year. Property Operating Expenses reduced by RM4.86 million or savings of 27.9% compared to the same quarter in the previous year. Hektar REIT registered net property income of RM12.38 million for the quarter under review, which is a slight increase of 0.2% compared to the corresponding quarter of the previous year, while realised income for 4Q 2021 was 185.5% higher at RM3.21 million compared to the RM1.12 million recorded in 4Q 2020.
The Manager noted that there are signs of recovery supported by the gradual reopening of the economy and it can also be seen in the steady rise in visitor footfall since the relaxation of restrictions by the Government. While Hektar REIT is cognisant of the economy's improved growth trajectory supported by a recovering labour market, continued policy support and expansion in external demand, as well as the possible opening of international borders as early as the second quarter, the REIT is nevertheless retaining its cautious outlook in the face of the current wave of infections stemming from the Omicron strain.
As earlier announced, Hektar REIT declared an income distribution of RM11.9 million for 4Q 2021, equivalent to 2.53 sen per unit or a DPU yield of 4.96%, which is 181% higher compared to the income distribution for the corresponding period in 2020. The COVID-19 pandemic has impacted the retail industry significantly and the REIT has also not been spared. However, we remain committed to steering our portfolio into recovery this year, barring any unforeseen circumstances despite future Variants of Concern ("VOC") that might disrupt the overall recovery of the retail & economic sector.
During the quarter under review, Hektar REIT's fund size increased to 471,260,178 units from 461,960,178 units arising from the private placement exercise announced on 15 November 2021. A total of 9.30 million units out of the total proposed private placement of 23.098 million units were subsequently placed out in two tranches in December 2021, raising RM4.23 million. The private placement was undertaken to raise funding for working capital and capital work in progress, facilitating Hektar REIT's day-to-day operations as a whole by providing more flexibility in terms of cash flow management.
Hektar REIT remains committed to fulfill its obligation to ensure that all business activities are performed to high standards of Environmental, Social and Governance (ESG). Various energy utilisation and optimisation initiatives since 2017 have been put in place for all of its shopping malls, resulting in a significant reduction in greenhouse gas emissions (recorded as CO2e) and energy usage over the last five years. Despite the pandemic, reducing the environmental footprint of our assets and operations remain a priority. We managed to reduce the overall amount of CO2e emissions of our assets by about 11.6% to 18.8 million kgCO2e in 2021 from almost 21.3 million kgCO2e in 2020. Emissions intensity of our assets expressed as the amount of CO2e emitted per gross floor area (kgCO2e/sq.ft.) also improved to 4.0 kgCO2e/sq.ft. from 4.50 kgCO2e/sq.ft. in 2020. Overall, the portfolio's Building Energy Intensity ("BEI") is also on a declining trend. Hektar REIT is a constituent member of the FTSE4Good Bursa Malaysia Index and in its latest December 2021 evaluation, its ESG conduct has been recognised with a 3-star ESG rating by FTSE Russell.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comHektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust ("Hektar REIT"), today announced Hektar REIT's annual results for the financial year ended 31 December 2021 ("FY2021") with revenue at RM96.60 million in FY2021, down by 13.1% compared to the same period in the preceding year.
Ontario’s cannabis retail market has grown fast but has also reached a point where competition is intense, and it is becoming challenging for retailers to differentiate themselves. While big retail chains are expanding aggressively, some independent shops like Highland Cannabis are focusing on being the best cannabis store in their area. Spearheaded by former corporate executives, Owen and Niki Allerton, Highland Cannabis in Kitchener is amongst Ontario’s top 10 cannabis stores in terms of sales, and customers from far and away take the highway regularly to visit this exceptionally well-managed cannabis store.
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At the very beginning of 2022, South Korean tech giant Samsung announced its foray into the metaverse and a new “NFT Aggregation Platform” designed for its smart TVs. In addition to the NFT TVs, Samsung also launched a virtual experience inside of Decentraland, one of the most popular metaverse gaming platforms. It’s high time we […]