KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar Reit) expects to complete the acquisition of Kolej Yayasan Saad Melaka (KYSM) by June this year.
Hektar Reit said upon completion, it will be able to recognise the lease income from KYSM at RM8 million per year with a 2.5 per cent increment annually.
"The structure is a quadruple net lease so the lease from KYS is net income to Hektar Reit," it said in an email to Business Times.
The trust added that as per its dividend payout policy, at least 90 per cent of its total net income will then be distributed to unit holders.
Hektar Reit announced last September that it was taking over KYSM campus from KYS College Sdn Bhd for RM150 million.
The Reit is buying a single, one-and-half, two and three-storey buildings which make up the administration, academic, residential and student facilities of KYSM.
Established in 1995, KYSM is a fully residential and co-educational private school which offers secondary school education under Malaysia's New National School Curriculum for students from Form 1 to Form 5.
KYSM performed commendably in the recent Sijil Pelajaran Malaysia (SPM) 2023 results.
Almost 50 per cent of KYSM SPM 2023 candidates achieved straight As, with 81 out of 168 students attaining this remarkable feat.
The achievement again places KYSM among the top 10 best schools in Malaysia, based on the average school grade (GPS).
With a GPS of 1.257, KYSM has ranked 5th based on its spectacular SPM 2023 results, an improvement from last year's 7th place.
The National Average Grade (GPN) for this year stands at 4.60.
KYSM's GPS of 1.257 highlights the school's commitment to academic excellence, said its principal Tan Cheh Li in a statement.
"This remarkable achievement is the founder's forward-looking vision turned to reality. KYSM delivers par excellence secondary education for young students, empowering them as capable individuals in leadership and governance for the country.
"KYSM's unblemished performance is also thanks to the professional advice provided by the highly credible board of governors," Tan added.