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KUALA LUMPUR, Feb 25, 2022 - (ACN Newswire) - Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust ("Hektar REIT"), today announced Hektar REIT's annual results for the financial year ended 31 December 2021 ("FY2021") with revenue at RM96.60 million in FY2021, down by 13.1% compared to the same period in the preceding year. Property Operating Expenses reduced by RM8.59 million or savings of 14.8% compared to the previous year. Net Property Income (NPI) was reported at RM47.02 million, a decline of 11.2% compared with 2020. FY21 was a challenging year for the retail sector due to the COVID-19 pandemic and implementation of various Movement Control Orders, National Recovery Plan, mobility restrictions & closure of non-essential businesses for an extended period. Despite these challenges to the malls, the REIT managed to attract new & secured existing tenants covering 39.2% of Hektar REIT's Net Lettable Area ("NLA") in FY21.
For the fourth quarter ended 31 December 2021 ("4Q 2021"), Hektar REIT recorded revenue of RM24.98 million, which is 16.2% lower compared to the same quarter of the preceding year. Property Operating Expenses reduced by RM4.86 million or savings of 27.9% compared to the same quarter in the previous year. Hektar REIT registered net property income of RM12.38 million for the quarter under review, which is a slight increase of 0.2% compared to the corresponding quarter of the previous year, while realised income for 4Q 2021 was 185.5% higher at RM3.21 million compared to the RM1.12 million recorded in 4Q 2020.

The Manager noted that there are signs of recovery supported by the gradual reopening of the economy and it can also be seen in the steady rise in visitor footfall since the relaxation of restrictions by the Government. While Hektar REIT is cognisant of the economy's improved growth trajectory supported by a recovering labour market, continued policy support and expansion in external demand, as well as the possible opening of international borders as early as the second quarter, the REIT is nevertheless retaining its cautious outlook in the face of the current wave of infections stemming from the Omicron strain.

Income Distribution

As earlier announced, Hektar REIT declared an income distribution of RM11.9 million for 4Q 2021, equivalent to 2.53 sen per unit or a DPU yield of 4.96%, which is 181% higher compared to the income distribution for the corresponding period in 2020. The COVID-19 pandemic has impacted the retail industry significantly and the REIT has also not been spared. However, we remain committed to steering our portfolio into recovery this year, barring any unforeseen circumstances despite future Variants of Concern ("VOC") that might disrupt the overall recovery of the retail & economic sector.

Private Placement

During the quarter under review, Hektar REIT's fund size increased to 471,260,178 units from 461,960,178 units arising from the private placement exercise announced on 15 November 2021. A total of 9.30 million units out of the total proposed private placement of 23.098 million units were subsequently placed out in two tranches in December 2021, raising RM4.23 million. The private placement was undertaken to raise funding for working capital and capital work in progress, facilitating Hektar REIT's day-to-day operations as a whole by providing more flexibility in terms of cash flow management.

Sustainability Efforts

Hektar REIT remains committed to fulfill its obligation to ensure that all business activities are performed to high standards of Environmental, Social and Governance (ESG). Various energy utilisation and optimisation initiatives since 2017 have been put in place for all of its shopping malls, resulting in a significant reduction in greenhouse gas emissions (recorded as CO2e) and energy usage over the last five years. Despite the pandemic, reducing the environmental footprint of our assets and operations remain a priority. We managed to reduce the overall amount of CO2e emissions of our assets by about 11.6% to 18.8 million kgCO2e in 2021 from almost 21.3 million kgCO2e in 2020. Emissions intensity of our assets expressed as the amount of CO2e emitted per gross floor area (kgCO2e/sq.ft.) also improved to 4.0 kgCO2e/sq.ft. from 4.50 kgCO2e/sq.ft. in 2020. Overall, the portfolio's Building Energy Intensity ("BEI") is also on a declining trend. Hektar REIT is a constituent member of the FTSE4Good Bursa Malaysia Index and in its latest December 2021 evaluation, its ESG conduct has been recognised with a 3-star ESG rating by FTSE Russell.

For further information, please log on to www.bursamalaysia.com.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comHektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust ("Hektar REIT"), today announced Hektar REIT's annual results for the financial year ended 31 December 2021 ("FY2021") with revenue at RM96.60 million in FY2021, down by 13.1% compared to the same period in the preceding year.

SINGAPORE, Feb 23, 2022 - (ACN Newswire) - Catalist listed Aoxin Q&M Dental Limited ("Aoxin" or "the Group"), today announced a 20.8% increase in revenue to RMB160.2 million for full year ended 31 December 2021 ("FY2021"). The Group reported a net loss after tax of RMB7.3 million for FY2021, an improvement from the net loss of RMB12.1 million from a year ago. In 2020, in view of COVID-19 situation, the Chinese government provided temporary relief to businesses by waiving the social security insurance contributions. Aoxin would have additional RMB6.3 million of social security insurance expenses recorded in FY2020 resulting in a Net Loss of RMB18.4 million, instead of RMB12.1 million.
Dr. Shao Yongxin, Group Chief Executive Officer of Aoxin Q&M said, "Global economic prospects for 2022 will continue to be uncertain, with many countries still struggling to contain the rapid spread of the Omicron variant. The possibility of new COVID-19 strains cannot be ruled out. However, Aoxin Q&M's dental services make it resilient and well-positioned ride out the current downturn to capitalize on strategic opportunities in the post-COVID healthcare sector".

Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M said, "The Group has been operating in a challenging environment, severely impacted by the recurring lockdowns of entire cities in the People's Republic of China ("PRC"). We are keeping a close watch on the evolving COVID-19 situation in PRC, while managing our costs with strict discipline."

Revenue

The Group's revenue increased by RMB27.6 million or 20.8%, from RMB132.6 million in FY2020 to RMB160.2 million in FY2021, mainly due to the recovery in all business segments.

Revenue from primary healthcare segment increased by 19.7% from RMB78.5 million in FY2020 to RMB93.9 million in FY2021. The increase in revenue were from our key hospitals in Shenyang and Dalian cities, and a polyclinic in Panjin city mainly due to increase in patients.

Revenue from distribution of dental equipment and supplies segment achieved a significant growth of 24.8%. Revenue was RMB50.4 million in FY2021 as compared to RMB40.4 million in FY2020. There was a higher demand for dental supplies materials from government hospitals amidst a gradual economic recovery in China backed by rolling out of the COVID-19 vaccination in the country.

Revenue from laboratory services segment increased by 15.9% to RMB15.9 million in FY2021 as compared to RMB13.7 million in FY2020 due to increase in demand of such services from the government dental hospitals in Shenyang City.

EBITDA

The Group's EBITDA also increased from RM9.5 million in FY2020 to RMB13.9 million in FY2021. The increase in EBITDA was mainly attributable to higher revenue and better performance from key dental hospitals and polyclinics as well as higher sales for dental equipment and supplies. Despite a positive EBITDA of RMB13.9 million, the Group recorded a loss of RMB7.3 million due to salary increment and recruitment expenses, as well as higher other expenses, such as acquisition related fees for Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics") and other tax expenses.

Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M added. "We are also hopeful that moving forward, our recent acquisition of a 49% stake in Acumen Diagnostics will improve the profitability and cashflow of the Group. With Acumen Diagnostics expertise in R&D and medical diagnostics we will be able to play a vital role in support of the Singapore government's strategy of living with COVID-19. Concomitantly, this will also contribute to the growth of the Group."

Updates on associate - Acumen Diagnostics

- Capabilities to Tackle Omicron COVID-19 Variant

Acumen Diagnostics will continue to offer COVID-19 testing by polymerase chain reaction ("PCR") for patients that require PCR test results and for travelers as Singapore opens its borders, as well as distribute COVID-19 antigen rapid tests ("ART"). It will also launch a panel of new PCR tests for infectious diseases, sepsis and cancer.

On 3 December 2021, Acumen Diagnostics announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. On 16 December 2021, Acumen Diagnostics announced that it has been granted a license by Ministry of Health, Singapore to provide offsite COVID-19 PCR swab services and serology sample collection at 100 clinics.

Acumen Diagnostics will continue to roll out its testing services via the Q&M Dental Group Limited's network of clinics, and also at its headquarters located at The Gemini, 41 Science Park Road, Singapore. Currently, Acumen Diagnostics has about 61 clinics providing the testing services island-wide.

- Proposed listing on NASDAQ stock exchange in relation to Acumen Diagnostics Pte. Ltd.

On 17 January 2022, Aoxin announced that the associated company of the Group, Acumen Diagnostics is exploring a proposed listing of its securities on the NASDAQ stock exchange in New York, USA. In this regard, Acumen Diagnostics has appointed UOB Kay Hian Private Limited to assist Acumen Diagnostics with the listing evaluation and all relevant preparatory work including the selection of professional advisers and underwriting banks in relation to the proposed listing and fund-raising exercise.

Looking Forward

Aoxin's FY2021 results reflects the significant upturn in revenue as compared to FY2020 revenue which was the period when the COVID-19 pandemic in PRC was in a more serious phase. As the COVID-19 situation in the PRC continues to improve, we expect the Group's revenue to correspondingly improve.

In addition, the recent 49% acquisition of medical technology company, Acumen Diagnostics for S$29.4 million on 1 November 2021, will enhance the profitability of the Group going forward.

The business environment is expected to remain challenging for the year ahead, as many countries including PRC struggle to contain the rapid spread of the COVID-19 virus demonstrated by new waves of infections.

The Group will continue to focus on disciplined management of operating expenditures, costs and capital expenditures. The Group will continue to monitor its expenses and maximise cost efficiency for operations.

Barring any unforeseen circumstances and further worsening of the COVID-19 situation such as ad-hoc lock down or temporary closures in cities where we operate, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months. The Group will continue to monitor its operating expenses and maximise cost efficiency for operations.

For more information, please see attached files or the below links:
https://links.sgx.com/FileOpen/AoxinPressRelease-FY2021_final_23.2.22.ashx?App=Announcement&FileID=703172
https://links.sgx.com/FileOpen/AXQM%20Announcement%20FY2021.ashx?App=Announcement&FileID=703171

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, [email protected]

About Aoxin Q&M Dental Group Limited (Stock Code: 1D4.SI) www.aoxinqm.com.sg

Aoxin Q&M Dental Group Limited ("Aoxin Q&M" or together with its subsidiaries, the "Group") is a leading provider of private dental services in the Liaoning Province, Northern People's Republic of China ("PRC"). The Group operates 16 dental centres, comprising 10 dental polyclinics and 6 dental hospitals, located across 8 cities in Liaoning Province, namely Shenyang, Huludao, Panjin, Gaizhou, Zhuanghe, Jinzhou, Dalian and Anshan.

We currently have 400 dental professionals, including 170 dentists, 180 dental surgery assistants and 50 laboratory technicians.

A majority of the dental centres are accredited as Designated Medical Institutions of Medical Insurance. Additionally, the Group is engaged in the provision of dental laboratory services, as well as the distribution and sale of dental equipment and supplies in the Liaoning, Heilongjiang and Jilin Provinces in Northern PRC.

Aoxin Q&M was listed on the Catalist board of the Singapore Exchange Securities Trading Limited on 26 April 2017.

About Acumen Diagnostics Pte. Ltd. (www.acumen-research.com)

Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics") is a homegrown Singaporean, award-winning medical technology company. It is fully integrated with functions in research and development, manufacturing, as well as commercialisation of molecular diagnostics by distribution as well as conducting clinical laboratory testing services for (including but not limited to) infectious diseases, cancer, and COVID-19. It has also actively established frontline services such as COVID-19 on-site swabbing operations.

Acumen Diagnostics is a 51% subsidiary of SGX-listed Q&M Dental Group (Singapore) Limited (SGX: 1D4.SI) and 49%-owned by SGX-listed Aoxin Q&M Dental Group Limited (SGX: QC7.SI).

Media and Analysts: please contact below for more information: Waterbrooks Consultants Pte. Ltd.
+65 6958 8008, [email protected]
Wayne Koo (M): +65 9338 8166, [email protected]
Derek Yeo (M): +65 9791 4707, [email protected]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCatalist listed Aoxin Q&M Dental Limited ("Aoxin" or "the Group"), today announced a 20.8% increase in revenue to RMB160.2 million for full year ended 31 December 2021 ("FY2021").