Tuesday, 10 May 2016

Sale of Sky Express Hotel

The conditional period for the sale of Sky Express Hotel has been extended for a further one month for the purchaser to fulfil the last remaining condition precedent, which is to obtain written approval or confirmation from the Economic Planning Unit for the acquisition. The disposal is expected to be completed in the second quarter of 2016.

(The edge property, 12/04/2016)

Tropicana’s sale of Dijaya Plaza goes unconditional

Tropicana is selling the Dijaya Plaza office building to Kenanga Investment Bank Bhd for RM140 million cash. The disposal consists of 3,674 sq meter of freehold land together with an en-bloc 19-storey office tower and 322 parking bays over two levels of basement. The conditions precedent for the proposed disposal has been satisfied and the disposal is expected to be completed in second quarter this year.

(The edge property, 12/04/2016)

KWAP outlines investment moves

Retirement Fund Inc (KWAP) is finalising the acquisition of an office tower in Kuala Lumpur’s Golden Triangle for RM580 million. The office tower will be the second building that KWAP owns in the Klang Valley. As end of March, KWAP had RM122 billion in assets.

(New straits times, 13/04/2016)