Axis-REIT to sell Johor asset for RM162mil


PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) is proposing to dispose of the Axis Steel Centre@SiLC in Nusajaya, Johor, to a data centre operator for RM162mil.

In a filing with Bursa Malaysia, Axis-REIT said it is unable to disclose the identity of the purchaser as consent was not granted due to confidentiality clauses in the sale and purchase agreement.

“The manager believes that in the nine years of owning this property, it has maximised the income-generating potential of this asset and there is limited upside for future rental growth in its current capacity as a manufacturing facility.”

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

AxisREIT , DataCentreSale , Johor

   

Next In Business News

Singapore Q1 GDP up 2.7% y/y, above market forecast
Trading ideas: TNB, Lagenda, Apollo, George Kent, Magma, Advancecon, Hong Seng, Pos, TSR, Sunway
Blistering solar growth runs into grid blocks
Opportunities in Kazakhstan and Uzbekistan
Hot-pot chain eyes global growth after strong US debut
Cocoa falls as better African weather eases supply concerns
UK central bank warns markets of change
Mega First sees better earnings for core ops
Krugman says he’s ‘fanatically confused’ on where rates are going
Fund says Indian bonds underpricing index move

Others Also Read