Malaysian Resources to announce REIT proposal-The Edge
Malaysian Resources Corp Bhd (MRCB) is going to
undertake a real estate investment trust (REIT) exercise sooner
than thought, as sources noted that the company look to announce
a REIT proposal as early as this week.
Talk of MRCB planning a REIT has been going on the past few
months, as management said it is exploring options to
rationalise its asset base and east its debt load.
Such options include the creation of a REIT as well as the
disposal of its 30 percent interest in the Duta-Ulu Kelang
Expressway (DUKE) concession.
Imran Salim, chief operating officer, told The Edge weekly
three weeks ago that the management had mapped out plans to
monetise its assets and make MRCB a more property-centric
"We have quality income-generating assets and we are getting
good yields out of them. If it happens, we would prefer to go to
the market with at least a 3 billion ringgit ($900.23 million)
REIT, which is sizeable and possesses enough visibility to
attract foreign investors," says Imran.-The Edge Financial Daily
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 3.3325 Malaysian ringgit)