01
About the REIT
( current )
( current )
Creating The Places Where
People Love to Shop
People Love to Shop
02
Directory
03
Milestone
Hektar maintained steady
progress since 2002.
progress since 2002.
04
Organisation
05
Salient Features
06
Corporate
Governance
Governance
Earning the trust of
our shareholders
our shareholders
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Hektar Real Estate Investment Trust (“Hektar REIT”) aims to be recognized as a leading real estate owner and investor in terms of asset management, asset size and returns to unitholders.
The first retail focused Real Estate Investment Trust (REIT) to be listed in Bursa Malaysia in 2006.
Hektar REIT’s principal objective is to invest in income-producing real estate in Malaysia which aims to provide Unitholders with a secure income distribution and to enhance the long-term value of the REIT.
Hektar REIT aims to generate sustainable long-term value for our investors by strategically acquiring, managing and optimizing a diversified portfolio of high-quality real estate assets across multiple sectors including retail, educational and industrial properties, while maintaining strong corporate governance, risk management, and commitment to sustainable and responsible investing practices.
Hektar REIT’s portfolio consists of quality properties located across 4 states situated in Subang Jaya, Melaka, Muar, Sungai Petani, Kulim and Segamat with a combined value of RM1.39 billion.
Hektar REIT was listed on the Main Board of Bursa Malaysia on 4 December 2006 and has continuously recorded stable performance since its listing.
Hektar REIT is managed by Hektar Asset Management Sdn Bhd who is responsible to actively manage Hektar REIT’s portfolio of diversified assets, acquire and manage future assets which are income producing with the objective of extracting synergies and efficiencies from the assets in the portfolio.
Hektar REIT aims to generate sustainable long-term value for our investors by strategically acquiring, managing and optimizing a diversified portfolio of high-quality real estate assets across multiple sectors including retail, educational and industrial properties, while maintaining strong corporate governance, risk management, and commitment to sustainable and responsible investing practices.
Hektar REIT’s portfolio consists of quality properties located across 4 states situated in Subang Jaya, Melaka, Muar, Sungai Petani, Kulim and Segamat with a combined value of RM1.39 billion.
Hektar REIT was listed on the Main Board of Bursa Malaysia on 4 December 2006 and has continuously recorded stable performance since its listing.
Hektar REIT is managed by Hektar Asset Management Sdn Bhd who is responsible to actively manage Hektar REIT’s portfolio of diversified assets, acquire and manage future assets which are income producing with the objective of extracting synergies and efficiencies from the assets in the portfolio.
Creating The Places People Love, Striving Towards A Sustainable Future
“Our vision is to be a leading diversified REIT, delivering sustainable growth and value through a resilient portfolio.
We prioritize strong tenant relationships, adaptive asset management, and long-term community impact, ensuring stability, innovation and consistent returns for our stakeholders.”
We prioritize strong tenant relationships, adaptive asset management, and long-term community impact, ensuring stability, innovation and consistent returns for our stakeholders.”
DIRECTORY
MILESTONE
Hektar Maintained Steady Progress Since 2002.
Emphasis on asset enhancement
Constant lookout for yield-accretive acquisitions
Constant lookout for yield-accretive acquisitions
DIRECTORY
Hektar REIT is a Real Estate Investment Trust managed by Hektar Asset Management.
The Trust owns six shopping centres and a hotel, all of which are managed by Hektar Property Services.
MTrustee is the legal custodian of the Trust and acts on behalf of the Unitholders.
SALIENT FEATURES
EARNING THE TRUST OF OUR SHAREHOLDERS
Sound principles of corporate governance are critical to earning and retaining the trust of our investors, and to sustaining our foremost
commitment to acting with integrity.
The manager of Hektar Real Estate Investment Trust (“Hektar REIT”), together with the Trustee, is committed to adopting the highest standards of corporate governance. Hektar REIT ensures that its day to day business affairs consider ethical behaviour, accountability, transparency and sustainability in its core practices. Under such commitment, Hektar REIT aims to acquire public trust and investor confidence, which are essential to support the long term growth and sustainability of the organisation.
The manager of Hektar Real Estate Investment Trust (“Hektar REIT”), together with the Trustee, is committed to adopting the highest standards of corporate governance. Hektar REIT ensures that its day to day business affairs consider ethical behaviour, accountability, transparency and sustainability in its core practices. Under such commitment, Hektar REIT aims to acquire public trust and investor confidence, which are essential to support the long term growth and sustainability of the organisation.
Hektar REIT
Hektar REIT is Malaysia’s first retail focused REIT listed on the Main Board of Bursa Malaysia Securities Berhad on 4 December 2006. The REIT’s
cornerstone investor is Frasers Centrepoint Trust, part of Frasers Property, headquartered in Singapore.
The Manager of Hektar REIT
Hektar REIT is managed by Hektar Asset Management Sdn Bhd (“the Manager / HAMSB”), and was formed with a vision to set strategic directions
in managing the REIT’s assets and liabilities for the benefit of the Unitholders and to make recommendations to the Trustee on the acquisition,
investments and enhancement of assets under management.
Hektar REIT’s portfolio currently consists of six quality shopping centres, namely Subang Parade in Subang Jaya, Mahkota Parade in Melaka, Wetex Parade in Muar, Central Square in Sungai Petani, Kulim Central in Kulim and Segamat Central in Segamat. Besides shopping centres, Hektar REIT also owns Classic Hotel in Muar, which is adjoined to Wetex Parade. Details of the Hektar REIT’s assets can be found under “Portfolio Performance” of this annual report.
As required by the Capital Markets and Services Act 2007, the Manager holds a valid Capital Markets Services License (“CMSL”) issued by the Securities Commission (“SC”).
Other main functions of the Manager are (but not limited to) as follows:-
Hektar REIT’s portfolio currently consists of six quality shopping centres, namely Subang Parade in Subang Jaya, Mahkota Parade in Melaka, Wetex Parade in Muar, Central Square in Sungai Petani, Kulim Central in Kulim and Segamat Central in Segamat. Besides shopping centres, Hektar REIT also owns Classic Hotel in Muar, which is adjoined to Wetex Parade. Details of the Hektar REIT’s assets can be found under “Portfolio Performance” of this annual report.
As required by the Capital Markets and Services Act 2007, the Manager holds a valid Capital Markets Services License (“CMSL”) issued by the Securities Commission (“SC”).
Other main functions of the Manager are (but not limited to) as follows:-
- Developing and implementing business and strategic planning for Hektar REIT;
- Monitoring and ensuring the compliance with all relevant authorities, legislations, rules and guidelines as well as the Hektar REIT’s trust deeds;
- Supervising and overseeing the Property Manager on the management and operations of Hektar REIT’s retail malls and hotel;
- Supervising regulatory filing, ensuring compliance with Capital Markets and Service Act 2007, SC REIT Guidelines, Bursa Malaysia Main Market Listing Requirements (“Listing Requirements”), Trust Deeds and all relevant authority guidelines.
The Trustee
MTrustee Berhad was appointed as the Trustee for Hektar REIT via a Trust Deed executed by the Manager and the Trustee on 5 October 2006 and
as amended by two Supplemental Trust Deeds dated 20 March 2012 and 23 November 2016 respectively. The Deed details out the roles, duties,
obligations and powers of the Manager and the Trustee. Essentially, the Trustee and the Manager play countervailing roles against each other to
ensure that the REIT’s assets and liabilities are managed with efficiency and integrity for the benefit of the Unitholders.
Board Charter & Code of Ethics and Conduct
In addition to the Trust Deed, the Board of the Manager is also governed by the Board Charter, which outlines the principal role of the Board,
establishing the functions, responsibilities and powers of the Board and its various Committees. It also sets the policies of the Board to ensure that
the principles and practices of good corporate governance are applied in all their dealings for the REIT.
The Code of Ethics and Conduct (“Code”) sets out policies and guidelines relating to the standards and ethics expected of all employees of the Manager. Separately, any specific procedures on the application of policies referred to in the Code will be spelt out in the Company’s policies and procedures manual.
The Board Charter is regularly reviewed to incorporate latest statutory developments. Please click here for the Board Charter.
For the Terms of Reference for the Audit Committee, Nomination Committee, Executive Committee, please refer to the Board Charter.
The Code of Ethics and Conduct (“Code”) sets out policies and guidelines relating to the standards and ethics expected of all employees of the Manager. Separately, any specific procedures on the application of policies referred to in the Code will be spelt out in the Company’s policies and procedures manual.
The Board Charter is regularly reviewed to incorporate latest statutory developments. Please click here for the Board Charter.
For the Terms of Reference for the Audit Committee, Nomination Committee, Executive Committee, please refer to the Board Charter.
Fit & Proper Policy
The Board of Directors (the “Board”) of the Manager is committed to drive sustainable value for the unitholders of Hektar REIT. The generation of
long-term value is anchored on the alignment of interests between Hektar REIT’s unitholders with that of the Manager’s Board and Management.
In understanding the importance of driving objective and meritorious appointments at the leadership level, the Board has set out the Fit and Proper Policy for the Board and Senior Management of the Manager (the “Policy”).
The Policy is an extension of the Manager’s corporate governance framework and serves as a guiding document to ensure Directors and Senior Management possess the necessary traits and qualities required to perform their respective roles.
In understanding the importance of driving objective and meritorious appointments at the leadership level, the Board has set out the Fit and Proper Policy for the Board and Senior Management of the Manager (the “Policy”).
The Policy is an extension of the Manager’s corporate governance framework and serves as a guiding document to ensure Directors and Senior Management possess the necessary traits and qualities required to perform their respective roles.
Anti-Bribery and Anti-Corruption Policy
The Board of Directors had on 25 May 2023, approved the establishment of Anti-Bribery and Anti-Corruption (“ABAC”) Policy to ensure that
adequate procedures are in place to prevent employees and person associated with the Company from behaviours contrary to commercial
integrity which can compromise the Company’s reputation. Any types of bribery and corruption such as promising, offering, giving, or accepting
any incentive of any nature, directly or indirectly, to influence any type of decision to retain business for the benefit of the Company or of personal
interest shall not be tolerated.
Environmental, Social, Health & Safety Policy
Hektar Real Estate Investment Trust (“Hektar REIT”), through Hektar Asset Management Sdn Bhd (“HAMSB”), is committed to the to the
implementation of an environmental and social management system (“ESMS”) to incorporate relevant environmental, social, health and safety
(“ESHS”) aspects into the management of all Hektar REIT's business activities.
This Environmental, Social, Health and Safety Policy (“The Policy") applies to both the acquisition of properties in Malaysia which are to be added to the REIT portfolio, as well as the operations of Hektar REIT's existing portfolio of assets. This Policy also applies to the activities, as related to Hektar REIT; of both HAMSB and Hektar Property Services Sdn Bhd (“HPSSB") in their roles as asset manager and property manager respectively.
This Environmental, Social, Health and Safety Policy (“The Policy") applies to both the acquisition of properties in Malaysia which are to be added to the REIT portfolio, as well as the operations of Hektar REIT's existing portfolio of assets. This Policy also applies to the activities, as related to Hektar REIT; of both HAMSB and Hektar Property Services Sdn Bhd (“HPSSB") in their roles as asset manager and property manager respectively.
Human Rights Policy
Hektar Real Estate Investment Trust (“Hektar REIT”), through Hektar Asset Management Sdn Bhd (“HAMSB”) and Hektar Property Services Sdn
Bhd (“HPSSB”), conduct our business with respect by committing to uphold and promote human rights in all aspects of our operations. Human
rights are rights inherent to all human beings, regardless of race, sex, nationality, ethnicity, language, religion, or any other status.
Hektar REIT is committed to uphold and promote the fundamental principles of Human Right at work as defined by the Employment Act 195S
(revised 2022), The Child Act and other related Acts enforced in Malaysia and is guided by the following publications.
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