MRCB to complete disposal of Menara Shell by year end

Hong Leong Investment Bank (HLIB) Research expects Malaysian Resources Corporation Bhd's (MRCB) orderbook at about RM2.4bil.

KUALA LUMPUR: Malaysian Resources Corporation Bhd expects to complete the disposal of Menara Shell to MRCB-Quill Real Estate Investment Trust (MQ REIT) by Dec 31.

"For the REIT itself, it would still need to go through the extraordinary general meeting for their approval and we hope to conclude it by the end of the year," chief corporate officer Amarjit Chhina said at a press conference on Wednesday.

"It will be reflected in our financial results by Dec 31," he added.

Amarjit said that the project delivery partner (PDP) agreement between itself and Kwasa Land Sdn Bhd is expected also to be completed by early December.

"All conditions precedent have been met and we will have to do the necessary then it should be complete by the first week of December," he said.

MRCB had on Wednesday obtained shareholders approval for all its resolutions in the extraordinary general meeting.

The approval also includes the disposal of Menara shell and the PDP works agreement with Kwasa land.