The grand reception area
MRCB, meanwhile, said the proposed disposal would result in a net gain of about RM139mil for it and a reduction of its net gearing to 1 times.
The heads of agreement for the sale of Menara Shell to MQReit was signed on Dec 3 last year. At the time, the purchase consideration was to be satisfied via a combination of cash and issuance of new MQReit units.
The cut-off date for the execution of the sale and purchase agreement was extended several times since.
MRCB shares closed 1 sen lower at RM1.06 on Thursday, with 344,400 shares traded.
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