PETALING JAYA (Aug 26): Axis Real Estate Investment Trust (Axis-REIT) has proposed to acquire three adjoining industrial land parcels with warehouse properties in Taman Perindustrian Pulau Indah, Selangor, from Megalift Sdn Bhd for RM61 million cash.
PETALING JAYA (Aug 13): PTT Synergy Group Bhd has entered into five sale and purchase agreements (SPAs) to develop and sell five industrial warehouses in Pontian, Johor, to Koperasi Kakitangan Bank Rakyat Bhd (Sekatarakyat) for RM260 million.
The proposed facility with a storage capacity of two million pallet positions is aimed at accelerating the group’s expansion into logistics automation.
The development will feature two smart warehouses equipped with AS/RS systems, one for advanced cold chain logistics and the other for high-efficiency ambient storage, providing approximately 1.
The sale of the property to an investment firm, Airique Property Sdn Bhd, is expected to be completed by the third quarter of 2025, with an estimated net pro forma gain of RM4.
The disposal is expected to generate a net gain of RM9 million, which Axis REIT plans to fully distribute the sum.
The purpose-built warehouse has a gross built-up area of 416,572.
Vestland intends to fund the proposed office acquisition via internally generated funds, while the proposed warehouse acquisition will be funded through a mix of internally generated funds and bank borrowings.
Executive chairman and substantial shareholder Lee Check Poh said the group has so far invested RM300 million in the expansion of its warehouses, exceeding the minimum RM240 million investment in capital expenditure (capex) to qualify for the income tax exemption under the Malaysian Investment Development Authority’s (Mida) integrated logistics services (ILS) scheme.
“This is to reduce incidents of double taxing or cascading effect from the tax-on-tax imposition on several layers of the logistics supply chain.
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