KLCC Property to list biggest REIT in April


KUALA LUMPUR: KLCC Property Holdings Bhd, which owns Malaysia's iconic Petronas Twin Towers, is set to complete a restructuring and list in April the nation's biggest real estate investment trust (REIT).

The trust, three times larger than the next biggest Malaysian REIT, Sunway REIT, will not raise new money. The corporate restructuring was unveiled in November, creating a so-called stapled REIT by bundling existing shares of KLCC Property and units of KLCC REIT, in a bid to lure yield-hungry investors.

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