Paradigm REIT will start off with three shopping malls, and the trust could potentially acquire four more assets, chief executive officer Selena Chua Kah Noi said at the same press conference on Friday.
The IPO, indicatively priced at RM1 per share, comprises retail and institutional offerings, according to the prospectus unveiled on Friday.
In an exchange filing, YNH Property said its wholly owned units Kar Sin Bhd and YNH Hospitality Sdn Bhd, together with RHB Trustees Bhd, the trustee of Sunway REIT, have mutually agreed to extend the conditional period of their sale and purchase agreement (SPA) signed on Jan 20, 2025.
The REIT's distributable income came in at RM98.
Post-acquisition, the hotels will comprise approximately 5.
The initiative is projected to result in long-term savings of approximately RM41.
Realised earnings per unit after manager fees fell to 1.
Sunway REIT said the sale is part of Sunway REIT’s strategy to recycle assets.
Gross revenue was 9.
At present, the company is focusing on asset rejuvenation — including upgrading and refurbishing its properties — in an effort to attract more tenants.
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