Hektar Real Estate Investment Trust’s total revenue for the period ending March 31 2022 was RM29.12 million against the corresponding period of RM26.78 million previously. Its pre-tax profit for the quarter was RM13.742 million for the period as compared to RM6.52 million previously.
It said that the higher total revenue in the current quarter was mainly due to the higher rental support provided to tenants in 2021 as the businesses were hit hard by the Covid-19 pandemic.
At the same time, the higher net property income and profit after taxation in Q1 2022 were mainly due to the higher revenue and the reversals for the impairment of trade receivables in the current quarter. Included in profit before taxation in the current quarter was a one-off other income of RM1.4 million, being the claim awarded by the Court against third parties.
