Hektar REIT is in a "transition and upgrade" phase. While short-term profits took a small hit due to one-off expenses and upgrades, the aggressive expansion into industrial and education sectors suggests they are building a more diverse and "future-proof" portfolio

Hektar REIT isn't just about shopping malls anymore, though they remain the bread and butter
Retail Assets: Contributed 93.3% of total revenue. Malls like Central Square and Segamat Central saw improved occupancy and higher rental income.
Education Assets: Contributed 6.7% of revenue (via Kolej Yayasan Saad). This is a newer diversification play for the trust.