Monday, 11 March 2013

KLCC Property to form stapled REIT

KLCC Property to form stapled REIT

SC gives nod to KLCC Property to form stapled REIT (theedgemalaysia.com, 8th March 2013)

KLCC Property to form stapled REIT
Menara ExxonMobil
Menara Petronas 3

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KLCC Property Holdings Bhd’s (KLCCP) proposal to form a stapled real estate investment trust (REIT) has been given the green light by Securities Commission Malaysia (the SC), subject to several conditions.

It has been reported that KLCCP plans to list the REIT in April, which will turn it into Malaysia’s largest REIT in terms of asset size. KLCC REIT will come with three assets injected into it, namely Petronas Twin Towers, Menara 3 Petronas and Menara ExxonMobil. With an asset size of RM15.4 billion, it will be almost three times larger than the size of Sunway REIT Bhd.

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