Hektar Asset Management Sdn Bhd, the manager of Hektar Real Estate Investment Trust (Hektar REIT), appointed Zainal Iskandar Ismail, 50, as the Non-Independent Non-Executive Director, effective immediately.

With over 20 years of business experience spanning diverse industries such as property, oil and gas, port and logistics, hotel and tourism, renewable energy, palm oil and biofuels, information technology, and telecommunications, Iskandar is well-versed in corporate development and governance, financial restructuring, and business turnaround.

His multifaceted expertise in corporate finance and private equity investing has seen him evaluate, structure, raise financing for, and successfully exit numerous investments. He has led and managed various direct investments and industrial projects both locally and internationally, the company said.

Iskandar brings a wealth of experience to Hektar REIT, having held several key positions in both public listed and private companies. He currently serves as Chairman of PKEINPK Properties Sdn Bhd, Managing Partner of Heureka Capital Partners, and Board Member of Perbadanan Ekonomi Islam Perak, which is the business and investment arm of Majlis Agama Islam dan 'Adat Melayu Perak.

Previously, Iskandar served as Group CEO and Executive Director of Perak Corporation Berhad (Perak Corp). He was also Chairman of the Executive Committee and Board Member of Lumut Maritime Terminal Sdn Bhd (Lumut Port), and a Trustee of the Perak Corp Nature Foundation.

Iskandar has been instrumental in implementing the corporate and debt restructuring exercises undertaken by Perak Corp, putting the company to a stronger financial footing and recording profitabity levels, which is an integral with its regularisation plan. He has successfully restored the PN17 Company to profitability in 2022 after six consecutive years of losses since 2016.

He holds a Bachelor of Commerce degree majoring in Accounting from the University of Auckland, New Zealand. Iskandar's career began with the RENONG-United Engineers (Malaysia) Group, where he gained invaluable corporate development experience from the TIME dotcom Berhad initial public listing (IPO) and the corporate and debt restructuring exercise of RENONG-UEM Group.

The Board of Hektar REIT said today: "Iskandar's appointment is expected to strengthen the REIT's governance and enhance the Board's expertise, which are critical in steering Hektar REIT into a stronger position moving forward. His in-depth experience in corporate development and investments will contribute immensely in Hektar REIT's growth pursuits to double the portfolio size and increase the REIT's market capitalisation. Together with the Management team, we look forward to shaping the next growth phase of Hektar REIT."