Permodalan Nasional Bhd's (PNB) wholly-owned unit, Pelaburan Hartanah Nasional Bhd (PHNB), has completed the acquisition of Mydin Mall Seremban 2 for a purchase consideration of RM240 million through a sale and leaseback arrangement.
PHNB, the manager of Bursa Malaysia-listed REIT Amanah Harta Tanah PNB (AHP), said the acquisition was funded through a combination of financing and rights issuance of new units of AHP.
PHNB Chief Executive Officer Hafidz Atrash Kosai Mohd Zihim said the acquisition would increase AHP total assets to RM483 million, representing a significant addition to the existing portfolio of property that it currently managed, as well as providing yield accretive returns to unit holders.
"The addition of Mydin Seremban 2 to AHP's stable of properties will give AHP continued and increasing stable income in the long term to its unit holders due to the favourable length of the lease agreement entered," he said in a statement Sunday.
Hafidz Atrash Kosai said the issuance of rights units would further expand AHP's unit base and encourage continued participation of its existing unit holders.
The freehold property Mydin Mall Seremban 2, located in Seremban 2, Seremban, comprised a three-storey mall cum hypermarket and two sub-basements with a gross built up area of approximately 103,520 square metres spanning over 5.42 hectares.
Anchored by Mydin Hypermarket, the mall is amongst the biggest hypermarkets operated by Mydin Mohamed Holdings Bhd in Malaysia and offers extensive retail experience with vibrant tenancy mix for its shoppers. -- Bernama
Bernama
Mon Jan 16 2017
The freehold property Mydin Mall Seremban 2 comprises a three-storey mall cum hypermarket and two sub-basements with a gross built up area of approximately 103,520 square metres spanning over 5.42 hectares. - Filepic
Who is Prabowo Subianto, incoming president of Indonesia?
A wealthy ex-general with ties to Indonesia's popular outgoing president and its dictatorial past, looks set to be its next leader.
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.