Hektar REIT To Install Solar Panels In Its Malls Across Malaysia


Johari Shukri Jamil, chief executive officer of Hektar Real Estate Investment Trust, said that Hektar Asset Management Sdn Bhd (Hektar REIT) will install solar panels in its shopping malls to reduce total energy costs.


He said, “It’s important to address the electricity usage, as it makes up a large portion of our utility bills. It represents about 89% and we spent about RM19.3 billion on electricity alone last year.”

Hektar REIT has 2 million square feet of retail space across four states with assets worth RM1.2 billion by Dec 31, 2022.


The portfolio includes Mahkota Parade in Melaka, Subang Parade, in Selangor, Wetex Parade, and Classic Hotel in Muar, Johor, Kulim Central in Kedah, Central Square in Sungai Petani, Kedah, and Segamat Central in Johor.


The company’s revenue in FY 2022 reached RM117.5 million. The company aims to achieve an occupancy rate of up to 86% for its entire portfolio in FY2023, compared to 82% in FY2022.

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Johari Shukri stated that the company has set internal targets for ESG activities and will be spending capital on them this year. He also spoke about what they intend to achieve.

Hektar REIT will ensure that all its business activities are in line with strong ESG standards. He said this following the shareholders’ meeting of the company earlier this month.

Over the last 5 years, the company has invested RM10 million in various climate-change-related programmes.

The company has also invested in R&D, building and equipment, automation and machinery. For example, adding chillers or replacing incandescent light bulbs with energy-saving LED bulbs.

The company has also explored initiatives to reduce energy consumption, restore cooling towers, update air conditioning and mechanical ventilation and construct cold water systems.

Johari stated that its Segamat Central shopping mall will save RM12,000 by switching to energy-saving LEDs.

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