CMMT calls off talks over purchase of Tropicana City Mall, office block

KUALA LUMPUR: CapitaMalls Malaysia REIT Management Sdn Bhd is not going ahead with talks to purchase the Tropicana City Mall and office tower in Petaling Jaya from Tropicana Corporation Bhd.

The company said on Tuesday that CapitaMalls Malaysia Trust (CMMT) had decided not to pursue further with the acquisition as “both parties are unable to mutually agree on the terms of the sale and purchase agreement”.

To recap, CapitaMalls Malaysia REIT Management announced on Aug 23 it had received a letter of intent from Tropicana Corp to explore the opportunity to explore the purchase of the four-storey shopping mall and 12-storey office tower.