Hektar Real Estate Investment Trust · MYX:HEKTAR
Hektar Real Estate Investment Trust — Q3 2010 Earnings Presentation
22 slides from Hektar Real Estate Investment Trust's earnings presentation, Nov 3, 2010
Slide 1: Third Quarter 2010 Financial Results Presentation
THIRD QUARTER 2010 FINANCIAL RESULTS PRESENTATION HEKTAR ASSET MANAGEMENT SDN BHD 3 NOVEMBER 2010
Slide 2: Disclaimer
PRIVATE & CONFIDENTIAL 2 Disclaimer The material that follows is a presentation of general background information about the activities of the Hektar Group (including Hektar REIT and any other affiliates) as at the date of this Presentation. The information contained herein is given in summary form s
Slide 3: Financial Summary Third Quarter 2010 (3Q10)
PRIVATE & CONFIDENTIAL 3 Financial Summary Third Quarter 2010 (3Q10) 1 July 2010 – 30 September 2010 Three (3) months Commentary Portfolio Updates Mahkota Parade Revitalisation Continues with new Second Floor Tenancies Subang Parade plans a Cinema to open in mid-2011 New Retail Zone Launchin
Slide 4: Hektar REIT Annual DPU Growth Positive Since IPO
PRIVATE & CONFIDENTIAL 4 Distribution Details Hektar REIT Annual DPU Growth Positive Since IPO Current Dividend Distribution Details Third Quarter 2010 Distribution Di t ib ti P Period: i d 1 JJuly l – 30 S September t b 2010 Quarterly DPU: 2.50 sen Notice of Entitlement: 3 November 2010 Ex-
Slide 5: Hektar REIT DPU Dividend Yield at annualised 7.9%
PRIVATE & CONFIDENTIAL 5 Comparative Yields - Malaysia Hektar REIT DPU Dividend Yield at annualised 7.9% Traded at a 432 bps spread over MGS 10-year Hektar REIT Unit Price Change Hektar REIT Comparative Yields FY2010 YTD (9 months) Unit Price RM 1.26 30 Sep 2010 432 b bps spread 1 Jan 30 Sep % Cha
Slide 6: Portfolio Performance
PRIVATE & CONFIDENTIAL 6 Portfolio Performance Overall Occupancy at ~95.5% ► Rental Reversions flat at -1% for 3Q10 ► Tenancy Expiry Profile ►
Slide 7: Overall Portfolio Occupancy at ~95.5%
PRIVATE & CONFIDENTIAL 7 Hektar REIT Portfolio - Occupancy Overall Portfolio Occupancy at ~95.5% Hektar REIT Portfolio Occupancy As at 31 As at 31 As at 30 As at 31 As at 31 As at 31 As at 30 December December September December December December September Property P t 2004 2005 2006 2007 2008 2009
Slide 8: Rental Reversions flat at -1% for the quarter
PRIVATE & CONFIDENTIAL 8 Hektar REIT Portfolio – Rental Reversions Rental Reversions flat at -1% for the quarter 3Q 10: 20 new tenancies / renewals at -1% lower average rental rate Subang Parade’s rental reversions bottoming out Hektar REIT Rental Reversions: Quarter Third Quarter No. of New % o
Slide 9: Hektar REIT Tenancy Expiry Profile by Property
PRIVATE & CONFIDENTIAL 9 Hektar REIT Portfolio – Tenancy Expiry Profile Hektar REIT Tenancy Expiry Profile by Property Hektar REIT Tenancy Expiry Profile by Property As At 30 September 2010 Subang Parade No. of NLA of Tenancies NLA of Tenancies % of Total F Year For Y Ending E di T Tenancies i E ii
Slide 10: Tenancy Portfolio Expiry Profile 2010 – 2013
PRIVATE & CONFIDENTIAL 10 Hektar REIT Portfolio – Tenancy Expiry Profile Tenancy Portfolio Expiry Profile 2010 – 2013 FY2010 tenancy expiries account for approximately 7% of monthly rental income* Hektar REIT Tenancy Expiry Profile – Overall Portfolio As At 30 September p 2010 Portfolio No. of NLA
Slide 11: Financial Results
PRIVATE & CONFIDENTIAL 11 Financial Results Third Quarter 2010 Net Income up 1.5% from previous period ► Year-To-Date 2010 Net Income up 4.8% from previous period ► Hektar REIT trading at a 1.9% discount to NAV as at 3Q10 ►
Slide 12: Third Quarter '10 Net Income up 1.5% vs previous quarter
PRIVATE & CONFIDENTIAL 12 Income Statement – Quarter Comparative Third Quarter ‘10 Net Income up 1.5% vs previous quarter For Period 1 July – 30 September 2010 (versus previous comparable period) Income Statement 3Q10 3Q09 Variance d Quarter Third Qua te 2010 0 0 (Unaudited) (U aud ted) ((RM '000) 0
Slide 13: Third Quarter '10 Year-To-Date up 4.8% vs previous period
PRIVATE & CONFIDENTIAL 13 Income Statement – Quarter Year-To-Date Comparative Third Quarter ‘10 Year-To-Date up 4.8% vs previous period For Period 1 January – 30 September 2010 (versus previous comparable period) Income Statement 9M10 9M09 Variance Year-To-Date Year To Date (Unaudited) (RM '000) 000
Slide 14: Balance Sheet
PRIVATE & CONFIDENTIAL 14 Balance Sheet Hektar REIT’s Balance Sheet & Debt Info as at 3Q10 Balance Sheet As at 30.9.2010 As at 31.12.2009 Unit Price Statistics in RM '000 (Unaudited) (Audited) As at 30 September 2010 Non-Current Assets No. of Units Outstanding Investment Properties 715,973 720,000 3
Slide 15: Portfolio Updates
PRIVATE & CONFIDENTIAL 15 Portfolio Updates p Revitalisation @ Mahkota Parade ► Coming Soon to Subang Parade ► The Top Floor @ Wetex Parade ►
Slide 16: Mahkota Parade's Post-Refurbishment Continues
PRIVATE & CONFIDENTIAL 16 Mahkota Parade’s Revitalisation Mahkota Parade’s Post-Refurbishment Continues New Tenants: Body Glove, Poney, Converse, Nature Republic, Lee Cooper, etc Body Glove Poney Converse Nature Republic
Slide 17: Mahkota Parade's Revitalised Tenant Mix
PRIVATE & CONFIDENTIAL 17 Mahkota Parade’s Revitalisation Mahkota Parade’s Revitalised Tenant Mix New Tenants: Pro Eyes Studio, The Face Shop, Spa Professional, etc Pro Eyes Studio Spa Professional The Face Shop Young Collection
Slide 18: Mahkota Parade's Second Floor: New in 2010
PRIVATE & CONFIDENTIAL 18 Mahkota Parade’s Revitalisation Mahkota Parade’s Second Floor: New in 2010 • All IT Hypermarket: Largest IT Store in Melaka • Al-Ikhsan: Largest Sports Store in Melaka • New M-Square Zone: Stars Archery opening November 2010 Opening Second Floor Area Plan Nov’ 2010 S01 LFS
Slide 19: Bonia & Carlo Rino Flagships Stores at Mahkota Parade
PRIVATE & CONFIDENTIAL 19 Mahkota Parade’s New Flagships Bonia & Carlo Rino Flagships Stores at Mahkota Parade • Tenant Refitting in Progress: target opening January 2011 Opening Jan’ 2011 Bonia’s “Flagship” Carlo Rino’s “Flagship” Note: Diagrams and images are for illustrative purposes only.
Slide 20: Wetex Parade Top Floor: New Entertainment & Fashion Zone
PRIVATE & CONFIDENTIAL 20 Wetex Parade Asset Enhancement Wetex Parade Top Floor: New Entertainment & Fashion Zone • New Retail Zone on Top Floor: The Quadrix • Entertainment and Fashion zone covering 9,072 sq feet • Target Opening by December 2010 Opening p g Tenant Target Take-Up: 38 of 52 lots [
Slide 21: Subang Parade's Proposed Cinema
PRIVATE & CONFIDENTIAL 21 Subang Parade Asset Enhancement Subang Parade’s Proposed Cinema • Creating an Entertainment Anchor Opening • Positioning Subang Parade as a Family Entertainment Centre Mid-2011 • Strong support by shoppers & retailers • Operator Identified: 8 screens covering over 20,000 sq
Slide 22: Contact
PRIVATE & CONFIDENTIAL 22 Contact “Creating Creating The Places Where People Love To Shop” Shop Investor Relations Hektar Asset Management Sdn Bhd Block C-0-5, Plaza Damas 60 Jalan Sri Hartamas 1 Sri Hartamas 50480 Kuala Lumpur MALAYSIA ℡Tel: +6 03 6201 1011 Fax: +6 03 6201 0012 Web: www.HektarREIT.
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