Page 26 - ar2013

24 HAW PAR CORPORATION LIMITED
operationS review
The good locations
of our investment
properties are an
attribute that will
help cushion the
impact of any negative
market forces.
The Group’s investment property
portfolio comprises 45,816 square
metres of commercial and industrial
space in Singapore, Malaysia and
Hong Kong.
Singapore
HawParCentreandHawParGlassTower
are two offce buildings conveniently
located in Clemenceau Avenue with
a total lettable area of 13,567 square
metres. Haw Par Technocentre is a
light industrial building located in
Commonwealth Drive with a total
lettable area of 15,700 square metres.
In 2013, the office and industrial
properties achieved 100% and 95%
occupancy respectively. With the
continued increase in the supply of
industrial space amid an uncertain
economic outlook, more effort in
tenancy management is anticipated
in the coming year.
below:
Haw Par technocentre is
a light industrial building
located in Commonwealth
Drive In Singapore.
Malaysia
MenaraHawPar, a freeholdcommercial
building located in Kuala Lumpur’s
Golden Triangle along Jalan Sultan
Ismail, has a net lettable area of 16,074
square metres. With the persistent
over-supply of offce space in Kuala
Lumpur, the building’s occupancy
averaged at 75% for the year. To
maintain its competitiveness, the
building’s frontage improvement plan
is expected to be completed between
late 2014 and early 2015.
Hong Kong
Three of f ice/ industrial uni ts at
Westlands Centre, Quarry Bay, which
provide a lettable area of 475 square
metres, were fully leased.
The performance of our properties
was on par with the previous year’s.
However, the over-supply situation in
some segments will present challenges
in 2014. Nevertheless, with the good
locations at which our properties are
situated, together with our expertise in
tenancy management, any potential
negative impact will likely bemitigated.
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HawPar_AR2013_FA 260314.indd 24 3/26/14