Hektar Asset Management Sdn Bhd, the Manager of Hektar Real Estate Investment Trust announced that Hektar REIT recorded a higher revenue of RM34 million for the second quarter ended 30 June 2018 (“2Q18”), up 10% from the corresponding period (“2Q17”). Net Property Income (“NPI”) reached RM19.5 million, an increase of 8% for 2Q18 from the preceding year quarter, 2Q17.
“We are pleased that our portfolio optimization exercise which is being carried out throughout all of our 6 shopping malls in our asset portfolio is showing results. This was done on top of active leasing, aggressive marketing and value creation initiatives to improve long-term yields,” said Chief Executive Officer Datuk Hisham bin Othman.
ELK-Desa Resources Bhd, a non-bank lender focused in the used-car segment, has started its 2019 financial year on a positive note due to healthy macro-economic factors and improving consumer sentiment.
For the first quarter ended 30 June 2018, the Group registered higher revenue of RM28.82 million, a 13% increase, compared to revenue of RM25.57 million registered in the corresponding quarter a year ago. Profit before tax for the said quarter increased by 55% to RM10.72 million from RM6.90 million last year, mainly due to increase in hire purchaser portfolio and significantly lower impairment allowance.
Press Metal Aluminium Holdings Berhad (PMETAL-8869), the largest Aluminium smelter in South East Asia maintained its growth trajectory despite price volatilities on both aluminium and raw material fronts.
Performance in the second quarter was buoyed by higher aluminium prices, as well as a stronger U.S. dollar. Offsetting these were external factors such as increased raw material prices caused by alumina supply disruptions from Brazil.