Blanket rejection of OO in ABL is silly. Much of the programming world has recognized that OO provides a superior development paradigm. E.g., see
http://www.cintegrity.com/content/Object-Orientation-Why-When-and-How .
Which said, one has to recognize that ABl is a 4GL which is pseudo-compiled and that there are some operations which are very fast and low overhead in 3GL OO languages which turn out to be non-trivial in ABL. Periodically, someone will post on some forum about I did X in ABL and in C# or Java or something and look how terrible the ABL is. Most of the time, it is a stupid comparison because it is doing something far more than one ever would in reality and doing so in a tight loop with no other activity. I.e., the right way to benchmark and isolated function, but possibly meaningless in the real world.
Here, for example, we have isolated creating the class, but have no code for populating it or using it. Setting aside for the moment the OPs time which seems to be much higher than any one else's, we have 1000 iterations in, for example, .157s or .000157s per iteration. Now, possibly that is a long time relative to C#, but it is an amount of time which is, at the least, unlikely to ever be noticed by a user. Surely, populating the data and using it will consume vastly more time. So, let's put this in context. If you have a performance problem in context, then use this kind of test to isolate the source of the performance problem, but as an isolated test it is meaningless.
There is the OP's test which is a lot longer ... so one might ask questions about how long it takes for fewer iterations and then wonder if the user's PC was memory starved or doing something else at the time.
Which said, there are not a lot of circumstances in which creating 10000 objects makes a lot of sense. Is there meaningful business logic associated with each object? What are you encapsulating? Is the nature of the problem such that one or a smaller number of objects, each containing more data makes sense? One doesn't really have enough information here.
Note that a 10,000 line report means something like a 200 page report with 50 lines a page. Not many 200 page reports are actually useful.