Tower REIT to gain RM40.4m from Menara ING sale

AmTrustee Bhd, the trustee of Tower REIT, had signed a sale and purchase agreement with Goldstone Kuala Lumpur for the proposed sale of the property which includes 19 office parcels and 190 car park bays.

“The proposed disposal will have a favourable impact on the net gearing of the trust. Based on the net asset value (NAV) per unit of the trust as at Sept 30, 2014 of RM1.7948, the proposed disposal is expected to result in an increase in the NAV per unit by approximately 5%,” it said.