CEO Morning Brief

Sentral REIT Plans to Acquire Menara CelcomDigi From MRCB

Publish date: Fri, 09 Jun 2023, 08:45 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (June 8): Sentral Real Estate Investment Trust (Sentral REIT) plans to acquire 27-storey Menara CelcomDigi in Petaling Jaya from Malaysian Resources Corp Bhd (MRCB).

In a bourse filing, Sentral REIT said its management company, Sentral REIT Management Sdn Bhd, has accepted a letter of intent issued by MRCB to commence negotiations for the proposed acquisition.

In a separate filing, MRCB said its wholly-owned unit Puncak Wangi Sdn Bhd will negotiate the deal with Maybank Trustees Bhd, which is acting on behalf of Sentral REIT.

Menara CelcomDigi is currently leased out to Celcom Bhd (formerly known as Celcom Axiata Bhd) with a lease term of 15 years, which may be extended automatically for another two terms of three years each.

The office tower, erected on leasehold land, has a gross floor area of 1.06 million sq ft, including three levels of basement parking with 788 car parking bays and 287 motorcycle parking bays.

Sentral REIT and MRCB said a detailed announcement will be made upon the signing of the definitive sale and purchase agreement.

Shares of MRCB closed half a sen or 1.67% lower at 29.5 sen on Thursday, bringing the group a market capitalisation of RM1.32 billion. The counter has dropped 22.37% in the past year.

Meanwhile, Sentral REIT settled unchanged at 84.5 sen, valuing the group at RM905.66 million. The stock has also fallen 12.89% in the last 12 months.

Source: TheEdge - 9 Jun 2023

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