April 22, 2024

Axis-REIT in RM352mil property buy

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PETALING JAYA: Axis real estate investment trust (Axis-REIT) is proposing to acquire an industrial complex and an open storage yard in Klang, Selangor from Amsteel Mills Sdn Bhd (AMSB) for RM351.8mil.

In a filing with Bursa Malaysia, Axis-REIT said it had entered into two sale and purchase agreements with AMSB for the acquisition of the industrial complex and open storage yard.

Axis-REIT said the proposed acquisition of the properties was in line with the fund’s investment objectives and its growth strategy to provide the unitholders with stable income distribution.

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