Parkway Life REIT to divest Malaysian property for RM20m

• The property is currently Parkway Life Malaysia’s sole asset and contributes 0.2% to its asset value.

SINGAPORE (April 21): Parkway Life Real Estate Investment Trust's (REIT) wholly owned Malaysian subsidiary Parkway Life Malaysia has entered a sale and purchase agreement for the divestment of strata units and lots at MOB Specialist Clinics in Kuala Lumpur for RM20.09 million.

The property spans 2,444 sq m and has a freehold land tenure. There are three ground floor units, three medical consulting suite units, and car park lots. 

The REIT is expected to recognise a gain on disposal of investment of about S$100,000 (RM335,613). The property is currently Parkway Life Malaysia’s sole asset and contributes 0.2% to its asset value ... (click here for the full story on theedgesingapore.com).

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