malaysia

Mapletree eyes more industrial real estates in Malaysia

 

September 12 2007

 

PRIVATE real estate fund Mapletree Investments Pvt Ltd (MILF) is eyeing more industrial real estates in Malaysia for acquisition, its executive vice president for capital management Phua Kok Kim said today.

MILF is scouting for viable acquisitions in Johor, Kuala Lumpur, Penang and Malacca, he said.

Phua said MILF is focused mainly in manufacturing facilities, business parks, industrial parks, research and development facilities, information technology and software parks, and industrial offices in various Asian countries.

Besides Malaysia, it is in the China and Singapore markets, he told reporters after a sales and purchase agreement signing ceremony to buy a parcel of land together with six blocks of factories and one office block, including mechanical equipment, in Johor Baru from LCTH Corporation Bhd’s subsidiary, Classic Advantage Sdn Bhd, for RM80 million.

The purchase was undertaken via its nominee Mapletree MIF 2 Sdn Bhd.

Phua said MILF has a RM200 million allocation to purchase various industrial real estates in Malaysia.

“We are in talks with some (but nothing substantial as yet),” he said.

He also said that MILF might subsequently list the properties in real estate investment trusts (REITs) in Singapore. — Bernama