Hektar Real Estate Investment Trust · MYX:HEKTAR
Hektar Real Estate Investment Trust — Q2 2020 Earnings Presentation
25 slides from Hektar Real Estate Investment Trust's earnings presentation, Aug 26, 2020
Slide 1: Hektar Real Estate Investment Trust 2Q 2020 Results Presentation
Creating The Places People Love HEKTAR REAL ESTATE INVESTMENT TRUST 2Q 2020 RESULTS PRESENTATION 26 Aug 2020
Slide 2: Hektar REIT – Malaysia's First Retail-Focused REIT
Hektar REIT – Malaysia’s First Retail-Focused REIT 2 Organisation Diverse Portfolio CORNERSTONE UNITHOLDERS Frasers Centrepoint Strategic Partner MANAGER TRUSTEE Hektar Asset MTrustee Bhd Management Sdn Bhd PROPERTY MANAGER HEKTAR PORTFOLIO Hektar Property Services Sdn Bhd DISCLAIMER: The material t
Slide 3: Hektar REIT Financial Summary
Hektar REIT Financial Summary 3 Second Quarter 2020 (2Q20) April – June 2020 / 3 Months Financial Performance vs. Previous Period 2Q20 Gross Revenue: RM24.6 million, -29.2% 2Q20 Realised Income: RM1.5 million, -83.8% Net Property Income dipped – 34.4% Financing Renewed: 92% of Debt expires in 2024-2
Slide 4: MCO Impact 2Q 2020: Recovery Plans on Track during Recovery MCO Period
MCO Impact 2Q 2020 4 Recovery Plans on Track during Recovery MCO Period MCO: 18 March • Mandatory government order designed to minimise spread of COVID-19 • Only essential services open (supermarkets, pharmacies, food supply, others) Recovery MCO: 10 June • Approximately 94% of all tenants throu
Slide 5: Dividend Policy
Dividend Policy 5 Hektar REIT Dividend Deferment during Moratorium Period Hektar REIT granted temporary deferment of interest / profit payment on financing facilities by Malayan Banking Berhad and Maybank Islamic Berhad Moratorium Period for 6 months from 1 May to 31 October 2020 Condition: no
Slide 6: Portfolio Performance
6 Overall Occupancy at ~90.7% ► Rental Reversions +30.3% for 2Q20 ► Expiry Profile: 32% NLA expires in 2020 ► Portfolio Performance
Slide 7: Portfolio Occupancy
Hektar REIT Portfolio Occupancy 7 Average portfolio occupancy steady at 90.7% Portfolio Occupancy 2011-2020 Data Table '11 '12 '13 '14 '15 '16 '17 '18 '19 '2Q20 Subang Parade 99.9% 99.8% 100.0% 99.3% 94.7% 93.0% 90.9% 88.2% 93.9% 88.2% Mahkota Parade 94.5% 96.1% 97.8% 94.5% 95.5% 96.4% 96.1% 96.0% 9
Slide 8: Portfolio Occupancy
Hektar REIT Portfolio Occupancy 8 Subang Parade and Segamat Central occupancy still fluctuating due to Asset Enhancement planning & repositioning Portfolio Average at 90.7% for 2Q 2020
Slide 9: Rental Reversions
Hektar REIT Rental Reversions 9 +69.8% Second Quarter Rental Reversions (+30.3%) Key Renewed/New Tenants: Fashion & Footwear Only 7 tenants renewed in 2Q 2020, representing 0.3% of NLA +33.7% Impact due to Movement Control Order - only essential services opened from 18 March to 31 May Key Re
Slide 10: Expiry Profile
Hektar REIT Expiry Profile 10 Tenancy Expiry by Property Period End Tenancies Expiring NLA Expiring NLA as % of Monthly Jun Expiring (sq ft) % of Total NLA Rental Income* 2020 50 119,531 23% 33% 2021 31 212,794 41% 41% 2022 31 99,899 19% 23% 2023 2 28,112 5% 3% Period End Tenancies Expiring NLA Expi
Slide 11: Expiry Profile
Hektar REIT Expiry Profile 11 Tenancy Expiry by Property Period End Tenancies Expiring NLA Expiring NLA as % of Monthly Jun Expiring (sq ft) % of Total NLA Rental Income* 2020 23 48,672 16% 22% 2021 20 188,179 61% 60% 2022 8 39,886 13% 16% 2023 2 806 0% 1% Period End Tenancies Expiring NLA Expiring
Slide 12: Expiry Profile
Hektar REIT Expiry Profile 12 Tenancy Expiry for Portfolio 2020-2023 For FY 2020, the total amount of tenancies due for expiry was 185 which represented 661,978 sq. ft. or 32% of Total NLA For 2Q 2020, a total of 7 tenancies covering 6,356 sq. ft. were renewed, representing 0.3% of Total NLA Por
Slide 13: Financial Results
13 Financial Results ► 2Q20 Gross Revenue down 29.2% from preceding period ► 2Q20 NPI down 34.4% from preceding period ► Financing Renewed: 92% of Debt expires in 2024-2025
Slide 14: Income Statement: Quarter Comparative
Hektar REIT Income Statement: Quarter Comparative 14 Revenue declined by 29.2% in 2Q20 Net Property Income lower by 34.4% Realised Income declined 83.8% vs previous quarter due to Movement Control Order Income Statement 2Q20 2Q19 Variance Second Quarter 2020 (unaudited) (RM '000) (RM '000) (%) R
Slide 15: Income Statement: Year-To-Date Comparative
Hektar REIT Income Statement: Year-To-Date Comparative 15 For Period 1 January – 30 June 2020 (versus previous comparable period) Year-to-date, realised net income has declined 52.8% Income Statement 1H20 1H19 Variance Year-To-Date (unaudited) (RM '000) (RM '000) (%) Revenue 55,315 68,087 -18.8% P
Slide 16: Balance Sheet
Hektar REIT Balance Sheet 16 Balance Sheet As at 30.6.2020 As at 31.12.2019 Unit Price Statistics (Unaudited) (RM '000) (RM '000) Non-Current Assets As at 30 June 2020 Investment Properties 1,236,500 1,236,500 Plant & Equipment 102 113 No. of Units Outstanding Capital Work in Progress 5,459 1,158 46
Slide 17: Debt Profile
Hektar REIT Debt Profile 17 Hektar granted temporary deferment of interest / profit payment on financing facilities by Maybank from May to October 2020 Debt Summary August 2020 Facilities Amount % Total Facilities: Al-Murabahah, Term Loan (TL), # Facility (RM'000) Debt Security Expiry Cost Short-T
Slide 18: Portfolio Updates
ay a So MAHKOTA ES” PARAD i's OurPlater
Slide 19: Parkson Refurbishment at Subang Parade LG Floor
Hektar REIT Portfolio Updates 19 Parkson Refurbishment at Subang Parade LG Floor: Reopened in July 2020
Slide 20: New & Refurbished Tenants
Hektar REIT Portfolio Updates 20 New & Refurbished Tenants
Slide 21: New & Refurbished Tenants
Hektar REIT Portfolio Updates 21 New & Refurbished Tenants
Slide 22: New & Refurbished Tenants
Hektar REIT Portfolio Updates 22 New & Refurbished Tenants
Slide 23: Sales-Driven Promotion Programs at all shopping centres
Hektar REIT Portfolio Updates 23 Marketing: Sales-Driven Promotion Programs at all shopping centres
Slide 24: Subang Parade Village Grocer on track for opening in September 2020
Hektar REIT Portfolio Updates 24 Subang Parade Village Grocer on track for opening in September 2020
Slide 25: Investor Communications
Creating The Places People Love Investor Communications Hektar Asset Management Sdn Bhd D1-U3-10, Solaris Dutamas No1, Jalan Dutamas 1 50480 Kuala Lumpur MALAYSIA Tel: +6 03 6205 5570 Fax: +6 03 6205 5571 Web: www.HektarREIT.com Email: ir@HektarREIT.com
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