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KUALA LUMPUR (Aug 11): Businessman Datuk Eddie Ong Choo Meng has ceased to be a substantial unitholder of Hektar Real Estate Investment Trust (KL:HEKTAR).
Ong disposed of 7.135 million units, equivalent to 1.006% of total units, via the open market last Friday (Aug 7), trimming his unitholding to 35.45 million or 4.998%, according to a bourse filing on Monday.
No price tag was disclosed in the filing. Units of the retail-focused REIT closed at 47 sen apiece on Aug 7.
This is the first time Ong has lost his substantial unitholder status — falling below a 5% stake — in Hektar REIT since he emerged in December 2023.
Ong has been reducing his stake in Hektar REIT, from a peak of 28.46% in December 2023 to 14.91% a year ago.
At its peak, Bloomberg data indicated he acquired 143.9 million units at 89 sen each, worth about RM128.1 million, through direct business transactions.
Hektar REIT’s portfolio includes Subang Parade, Mahkota Parade, Wetex Parade, Central Square, Kulim Central, Segamat Central and Kolej Yayasan Saad, according to its website.
Units of Hektar REIT ended half a sen or 1.06% lower at 46.5 sen, valuing the REIT at RM329.8 million.
Ong holds substantial holdings in various listed companies on the bourse.
This includes Hextar Global Bhd (KL:HEXTAR), KIP REIT (KL:KIPREIT), Hextar Healthcare Bhd (KL:HEXCARE), Hextar Industries Bhd (KL:HEXIND), Hextar Technologies Solutions Bhd (KL:HEXTECH), Hextar Capital Bhd (KL:HEXCAP) and Hextar Retail Bhd (KL:HEXRTL).
On Monday, Ong also announced a conditional voluntary takeover of Hextar Retail at 43 sen per share. Ong, whose Hextar Portfolio Sdn Bhd holds a 30.6% stake in the wooden picture frame mould maker and F&B retailer, intends to maintain Hextar Retail’s Main Market listing status.
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