KUALA LUMPUR: Capitaland Malaysia Trust
(CLMT) has entered right into a sale and buy settlement to acquire two plots of contiguous freehold land and industrial properties erected therein in Sungai Jawi, Penang for RM80 million.
This marks CLMT’s entry into Malaysia’s logistics sector after the enlargement of its funding mandate past the retail sector to embody properties in industrial, workplace and industrial asset courses, the group stated in a submitting with Bursa Malaysia in the present day.
“Post-transaction, CLMT’s gearing will enhance from 35.9 per cent to 37.2 per cent, which stays properly under the regulatory restrict of fifty per cent.
“The proposed acquisition will contribute positively to CLMT’s earnings and is accretive on the distribution degree,” it stated.
CapitaLand Malaysia REIT Management Sdn Bhd’s chief govt officer and CLMT supervisor, Tan Choon Siang stated the proposed acquisition is in line with the corporate’s goal to ship long run and sustainable returns to unitholders by buying high quality properties with steady recurring revenue.
“Following the enlargement of CLMT’s funding mandate in June 2021, we’re happy to embark on the acquisition of our maiden logistics property, which is well-placed to profit from Penang’s rising significance as some of the dynamic industrial hubs in Malaysia.
“We imagine the demand for logistics warehouses in Malaysia stays robust and resilient,” he stated. – Bernama
