CapitaLand Malaysia expects occupancy recovery momentum to sustain in 2023 despite challenging macro environment
At the end of 4QFY2022, the REIT’s portfolio occupancy rate stood at 85.
At the end of 4QFY2022, the REIT’s portfolio occupancy rate stood at 85.
It declared a distribution per unit (DPU) of 2.
Prominent tenants are The Body Shop, Muji, L’OCCITANE, Starbucks Coffee, Roche (Malaysia), Accenture Technology Solutions, and Sunway Hotels.
The southern region remained as the highest revenue contributor to KIP REIT, with the three malls located in the region reporting a gross revenue of RM9.
Both REITs are managed by Damansara REIT Managers Sdn Bhd, a wholly owned subsidiary of Johor Corporation and supported by KPJ Healthcare Bhd.
The proposal comes as the 10-year master lease agreement that commenced on Dec 31, 2012 is set to expire on Dec 30 this year.
The winding-up process will involve the disposal of all assets and properties of Alpha REIT in accordance with the trust deed of Alpha REIT and the Securities Commission Malaysia’s REIT guidelines.
The company said the issue price represents a discount of approximately 3.