AmanahRaya REIT to buy five assets worth RM308mil

Posted on | June 9, 2007

By BERNAMA

KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (REIT) plans to acquire five assets worth RM308.67mil from Amanah Raya Bhd and one each from SEG International Bhd and Globalmas Sdn Bhd.

The assets to be acquired from AmanahRaya include two pieces of leasehold industrial land occupied by a warehouse complex worth RM28.5mil, the company said in a filing with Bursa Malaysia.

It will also acquire from Amanah Raya a parcel of freehold land with an industrial complex valued at RM92mil and two parcels of leasehold land with two industrial complexes worth RM19.2mil.

All the assets, located in Selangor, will be paid for through the issuance of new units in Amanahraya REITs at an issue price of 94 sen per unit, the statement said.

SEG International is selling a parcel of leasehold land in Selangor worth RM145mil, while the acquisition from Globalmas is leasehold industrial land in Gurun, Kedah, worth RM23.97mil.

AmanahRaya REITs said it expected to raise RM93mil via a private placement of up to 100 million new units at an issue price of 93 sen to pay for these two purchases.

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