It is acquiring the stake through its wholly owned subsidiary, Ann Joo Management Services Sdn Bhd (AJMS), from KESB director Datuk Ong Tee Thong, according to a Bursa Malaysia filing on Tuesday.
Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May shared that the REIT is currently in closed talks with potential acquisition targets valued at RM300 million with heavy inclination towards industrial.
“We have been actively managing our balance sheet to create room for acquisitions and if we have a choice, we would be keen to deploy some of our capital again in the industrial and logistics area,” said Tan Choon Siang, the chief executive officer of the trust's manager, CapitaLand Malaysia REIT Management Sdn Bhd.
Under the MOU, NCT Group and the MEIA will focus on connecting the NSIP with stakeholders from the Guangdong province through investor relations programmes.
The industrial park is estimated to have a gross development value (GDV) of between RM321 million and RM397 million, according to Citaglobal.
“It was also RM179 million higher than a previously cancelled direct deal.
SD Guthrie said the park will be developed on 641 acres of land in its estate in Kulai as a hub for high-value industries such as logistics, advanced manufacturing and clean technologies.
The company said it is buying the property, which includes a semi-detached factory and a three-storey office building, from a scrap metal trading firm, Sri Pushpam Recycling Sdn Bhd, for RM11 million.
It added that the industrial park would complement its proposed development of the smart AI container port project in Negeri Sembilan.
DONE DEAL: Bungalow, Taman Duta, Kuala Lumpur DONE DEAL: Condo unit, Menara Bukit Ceylon, Bukit Ceylon, Kuala Lumpur Jenjarom is expected to grow as a town, with new industrial projects and mixed developments under construction or being proposed.
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