CapitaLand Malaysia Trust proposes acquisition of Queensbay Mall for RM990.5mil

KUALA LUMPUR: MTrustee Bhd, the trustee of Capitaland Malaysia Trust (CLMT), has entered into agreements to acquire 91.8% of the total strata floor area of retail parcels in Queensbay Mall in Penang for RM990.5mil.

In a statement, CapitaLand Malaysia REIT Management Sdn Bhd (CMRM), the manager of CLMT, said the purchases from parties related to CapitaLand Investment Ltd (CLI) represent a discount of about 1% to the independent valuation of RM1bil.