Appointment of new Property Manager for Hektar REIT

Hektar Asset Management Sdn Bhd (“Hektar AM”), the Manager of Hektar REIT is pleased to announce the appointment of Hektar Property Services Sdn Bhd (“Hektar Property Services”) as the new Property Manager for Hektar REIT's portfolio of retail centres, replacing Izrin & Tan Properties Sdn Bhd (“Izrin & Tan”) effective 1 June 2011.

The fee structure with Hektar Property Services will be the same as the previous fee structure with Izrin & Tan, i.e. 2% of gross revenue, which is in line with the standard scale fee governed by the Board of Valuers Malaysia.

Hektar Property Services is licensed by the Board of Valuers Malaysia and complies with the requirements of the Valuers, Appraisers & Estate Agents Act (VAEA 1981). The Company is wholly owned by two registered valuers, Sr. Adzman Shah bin Mohd Ariffin and Puan Khatijah Razali who are the shareholders and directors of the Company. Their profiles are as follow :-

i) Sr. Adzman Shah bin Mohd Ariffin

Sr. Adzman, a Registered Valuer and Estate Agent with the Board of Valuers, Appraisers & Estate Agents Malaysia was the Deputy Managing Director heading the Valuation, Investment and Property Management departments at DTZ Nawawi Tie Leung Property Consultants Sdn Bhd. He also undertook key researches and consulting appointments specializing in master planning, market and feasibility studies for township developments and retail property developments.

He started his career as a Valuer in Cardiff, Wales and subsequently returned to Malaysia in 1991 to work for Taylor Woodrow International in Kuala Lumpur. He later joined Colliers Jordan Lee & Jaafar Property Consultants and was involved mainly in valuation of properties and market research and consultancy. He subsequently worked for Cold Storage Malaysia Bhd and was involved in commercial and retail property development, investment, management, marketing and leasing for its shopping centres. Prior to joining DTZ, Sr. Adzman was with Carrefour Malaysia as Director of Expansion and Property overseeing the expansion of hypermarkets and the management of its hypermall centres for almost nine years.

Sr. Adzman graduated from the University of Glamorgan, Wales with a Bachelor of Science in Urban Estate Management. He is a Professional Member of the Royal Institution of Chartered Surveyors, a Fellow Member of the Institution of Surveyors Malaysia and is the Chairman of Property Management and Valuation Surveying Section of the Institution of Surveyors Malaysia for the 2011/2012 session.

He is a regular speaker at conferences organized by the Institution of Surveyors, Malaysia, The International Real Estate Federation (FIABCI) Malaysia, Persatuan Pengurusan Kompleks (PPK) Malaysia and Institut Penilaian Negara (INSPEN).

Recently, Sr. Adzman received an award from the Board of Valuers, Appraisers & Estate Agents for his eminent contribution to the property management industry in Malaysia.

ii)Puan Khatijah Binti Razali

Puan Khatijah, a Registered Valuer and Estate Agent was attached to the Valuation & Property Services department under the Ministry of Finance spanning over 25 years and served in various capacities and locations. She began her career as a Valuation Officer and moved her way up to her last position as Director (Privatisation & Investment Sector) of the Valuation and Property Services department. Prior to her appointment as Director of Hektar Property Services, Puan Khatijah was serving with a private registered valuation company.

Dato’ Jaafar bin Abdul Hamid who is the founder and Chief Executive Officer of Hektar AM has no direct or indirect interest in Hektar Property Services.