WCT to establish Paradigm-REIT

WCT said the move was in line with its ongoing de-gearing initiative, allowing it to monetise its investments.

PETALING JAYA: WCT Holdings Bhd has proposed to dispose of its three malls for RM2.43bil and inject the assets into a proposed real estate investment trust (REIT) to be listed on the Main Market of Bursa Malaysia.

WCT, which sits on total borrowings of RM3.1bil against cash in hand of RM329mil, said the three malls are Bukit Tinggi Shopping Centre, Klang; Paradigm Mall, Petaling Jaya, and Paradigm Mall, Johor Baru.