April 10, 2014 / 12:36 PM / 3 years ago

Malaysian Resources Corp sells office for $232 mln

KUALA LUMPUR, April 10 (Reuters) - Malaysian Resources Corp Bhd (MRCB), a local construction firm, said on Thursday it is selling an office building in the capital city to Quill Capita Trust for 750 million ringgit ($232.38 million).

Quill Capita, a real estate investment trust, will fund the purchase by paying 486 million ringgit in cash, with the balance satisfied via the issuance of 206.25 million new Quill Capita shares at 1.28 ringgit each, MRCB said.

MRCB stands to gain 240 million ringgit from the transaction, the company said in a local stock exchange filing.

Shares of MRCB ended 1.2 percent higher at 1.64 ringgit, while Quill Capita closed 0.91 percent higher at 1.11 ringgit. The benchmark stock index rose 0.2 percent.

($1 = 3.2275 Malaysian Ringgit)

Reporting By Yantoultra Ngui; Editing by Erica Billingham

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