Hektar Real Estate Investment Trust (REIT), which expects to maintain its distribution per unit (DPU) at 10.5 sen in the current financial year ending Dec 31, 2016 (FY16), is also identifying potential acquisition targets across the country to widen its portfolio under management.

The exercise involves 39.81% of the issued and paid-up capital of Tanah Makmur, or 158.504 million shares, which will entail the capital repayment of RM285.13 million to the entitled shareholders, according to Tengku Abdullah’s letter to the company yesterday, which was filed with Bursa Malaysia.

Gabungan AQRS Bhd made several changes to its management line-up yesterday, with its major shareholder and chief executive officer (CEO) Ng Chun Kooi, 55, redesignated as the company’s executive vice-chairman.

Penang-based property developer Belleview Sdn Bhd is said to be seeking a buyer for its Aman Central shopping mall in Alor Setar, Kedah. The mall, touted as the largest in the state, which commenced operations on Oct 1 last year, has an occupancy rate of 95% and high visitor numbers.

Malaysian Resources Corp Bhd (MRCB) said the Employees Provident Fund (EPF) has offered to acquire an 80% interest in ‘exchange’ land that the company will be receiving under the National Sports Complex privatisation project, for RM421.5 million.

S P Setia Bhd plans to launch the first phase of Setia Eco Templer in the first week of May, said president and CEO Datuk Khor Chap Jen.

Eco Somerset lifestyle shop offices in the Eco Sanctuary township at the south of Kota Kemuning have received overwhelming response from buyers, with 70% of the units snapped up during the first day of its official launch.

KLK Land, a subsidiary of KL-Kepong Bhd, has opened its Hibiscus 2 2-storey terraced houses in Bandar Seri Coalfields, Sungai Buloh for registration.

Hektar Real Estate Investment Trust (REIT) will continue its mall enhancement initiatives this year, allocating RM20 million to increase the overall net lettable areas (NLA) of Landmark Central in Kedah by 20,000 sq ft to 300,000 sq ft.

After several delays, Middle Eastern retailer LuLu Group International is expected to commence operations of its first store in Malaysia in May or at the latest by early June, in time to capture the Hari Raya shoppers, said sources.