MRCB bags contract for car park operations at Menara Shell, Platinum Sentral

KUALA LUMPUR: Malaysian Resources Corp Bhd's (MRCB) wholly-owned subsidiary Semasa Parking Sdn Bhd has secured a contract from Sentral Real Estate Investment Trust (REIT) for the operations of car parks at Menara Shell abd Platinum Sentral.

MRCB said in a filing with Bursa Malaysia the operations will be for a period of three years at both locations.

Under the agreement, the minimum guaranteed rental at Menara Shell and Platinum Sentral will be RM200,000 annd RM95,000 respectively.

According to MRCB, there will be a profit-sharing ratio between Sentral REIT and Semasa Parking of 90:10.

It said the fixed monthly revenue threshold of the Menara Shell car park will be RM242,000 a month, and RM122,000 a month at Platinum Sentral.

The group added that in view of the interest of the interested directors and interested major shareholder, the transactions are deemed a related party transactions pursuant to Paragraph 10.08 of the Main Market listing requirements of Bursa Malaysia Securities Bhd.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

MRCB , Semasa Parking , Sentral REIT , car park


Next In Business News

Digi.Com proposes change of name to CelcomDigi Bhd
PETRONAS, ExxonMobil to jointly develop carbon capture projects
AirAsia X posts 324% rise in passengers to 337k
Measat inks MoU with Parcel365 and M2B Services on Digital Village365 initiative
HeiTech Padu bags RM38.6mil contract from MOHE
FBM KLCI continues losing streak, down for third day
Oil prices advance on US growth, Chinese recovery hope
Akio Toyoda set to remain a force at Toyota, even as he bows out
Asian FX, stocks rise as strong U.S. GDP data aids risk sentiment
Asian equities hit 9-month high as recession fears wane

Others Also Read