CMMT's investment mandate expansion gets unitholders' nod

KUALA LUMPUR (Bernama) -- Capitaland Malaysia Mall Trust (CMMT) unitholders have voted in favour of the proposed expansion of its investment mandate to allow CMMT explore other asset classes beyond the retail sector.

The real estate group's manager, CapitaLand Malaysia Mall REIT Management Sdn Bhd, said over 350 unitholders voted at CMMT’s extraordinary general meeting today, where 100 per cent of the total number of votes were in favour of the proposal.

"The unitholders were in support of the manager’s proposal to expand CMMT’s investment objective and policy beyond the retail sector and this includes commercial, office and industrial asset classes," it said in a statement here.

Consequently, it said the names of CMMT and the REIT manager will be changed to CapitaLand Malaysia Trust and "CapitaLand Malaysia REIT Management Sdn Bhd” upon obtaining the approvals of the relevant authority and the REIT manager’s shareholders, respectively.

Upon obtaining the necessary regulatory approvals, the investment mandate expansion is expected to be completed by the third quarter of 2021.

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