AME Elite proposes to set up industrial REIT


AME group managing director Kelvin Lee (pic) said the proposed REIT would be an instrument of growth for the company, by unlocking value and enabling the group to continue pursuing its plans of expanding the land bank for its industrial parks segment, and increasing the capacity of its construction division.

PETALING JAYA: AME Elite Consortium Bhd has proposed to establish and list an industrial real estate investment trust (AME REIT) on the Main Market of Bursa Malaysia Securities Bhd.

In a statement, the integrated industrial space solutions provider said the investment portfolio of AME REIT would comprise assets to be identified from existing industrial leasing properties owned by its subsidiaries.

AME group managing director Kelvin Lee said the proposed REIT would be an instrument of growth for the company, by unlocking value and enabling the group to continue pursuing its plans of expanding the land bank for its industrial parks segment, and increasing the capacity of its construction division.

“The REIT will be a unique proposition to retail and institutional investors, as it allows access into a growing portfolio of high-occupancy properties with resilient demand, ” he said.AME owns and manages industrial leasing properties at its industrial parks in Johor, namely i-Park@SiLC, i-Park@Indahpura, i-Park@Senai Airport City, and District 6.

The proposed AME REIT would provide a stable and recurring income to investors, with at least 90% of its income to be distributed to unitholders. Hong Leong Investment Bank has been appointed as the principal adviser and bookrunner for the proposed REIT.

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industrial , REIT , AME Elite , Kevin Lee , properties ,

   

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