External broker reports(aggregated public sources), Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad operates as an investment banking company. The Company provides debt and equity funding, private debt securities issuance, merger and acquisitions, initial public offerings, corporate restructuring, and stockbroking services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

Hektar Real Estate Investment Trust / Equity Bottom-Up

Hektar Real Estate Investment Trust (HEKT MK)

<ul><li>Hektar’s 1Q24 core net profit came in at RM5.1m (+1.4x QoQ, -44.8% YoY). This came in below ours and consensus estimates at 16% of full year forecast.</li><li>The negative deviation was due to higher-than-expected finance costs. In view of the results shortfall, we cut our FY24/25 forecasts by -5.4%/-5.2%.</li><li>We also introduce FY26 forecasts. Besides, the increase in units in circulation after its private placement has resulted in our forecasted FY24/25 EPU to decline by -22%/-23% post earnings cut due to dilution. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Hektar’s 1Q24 core net profit came in at RM5.1m (+1.4x QoQ, -44.8% YoY). This came in below ours and consensus estimates at 16% of full year forecast.The negative deviation was due to higher-than-expected finance costs. In view of the results shortfall, we cut our FY24/25 forecasts by -5.4%/-5.2%.We also introduce FY26 forecasts. Besides, the increase in units in circulation after its private placement has resulted in our forecasted FY24/25 EPU to decline by -22%/-23% post earnings cut due to dilution. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hektar Real Estate Investment Trust

Hektar REIT - Impacted by Higher Costs