Saturday, September 6, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Lifestyle

CapitaLand Malaysia Trust proposes sale of 435.4 million units to raise RM250 million

by Mark Darwin
in Lifestyle
CapitaLand Malaysia Trust proposes sale of 435.4 million units to raise RM250 million
Share on FacebookShare on Twitter


[SINGAPORE] The manager of CapitaLand Malaysia Trust (CLMT), a subsidiary of CapitaLand Investment, on Tuesday (Jun 3) proposed a placement of up to 435.4 million new units to raise gross cash proceeds of up to RM250 million (S$75.8 million).

This will represent around 14.9 per cent of the total number of units in issue.

The number of placement units was determined based on an issue price of RM0.5741 per unit, representing a discount of around 10 per cent to the volume weighted average market price of RM0.6379 per unit over the five trading days up to and including the latest practicable date.

The final number of placement units will be determined at a later stage, the manager said in a bourse filing.

Proceeds from the sale may be temporarily parked in interest-bearing deposit accounts, short-term money market instruments, or other permissible investments in accordance with CLMT’s trust deed.

According to the manager, the proposed placement aims to raise funds to partially repay existing bank borrowings that were previously drawn to finance the acquisition of industrial and logistics assets in 2022 and 2023.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

The proceeds will also be used to fund the acquisition costs of several proposed properties currently pending completion.

CLMT previously acquired the Valdor Logistics Hub in Penang for RM80 million in December 2022 and the Glenmarie Distribution Centre in Selangor for RM39.7 million in August 2023, both funded through bank borrowings.

In addition, CLMT is expected to complete the acquisition of three freehold industrial properties in Senai Airport City for RM72 million, another three freehold industrial properties in Nusajaya Tech Park in Iskandar Puteri, Johor, for RM27 million and an automated logistics facility in Selangor for RM180 million. These are all expected to be completed by the second half of 2025.

“After due consideration of the various funding options available for the funding of the projects and also future acquisitions, the Board is of the view that the proposed placement is the most appropriate avenue for fund-raising,” the manager said.

CLMT’s portfolio comprises six retail properties and two logistics assets with a total net lettable area of 4.3 million square feet, across three key urban centers in Malaysia.

Units of CLI ended Tuesday 0.4 per cent or S$0.01 higher at S$2.51. Units of CLMT, which is listed on Bursa Malaysia, closed 0.8 per cent or RM0.005 lower at RM0.635 on Tuesday.

Tags: CapitaLandMalaysiaMillionProposesRaiseRM250SaleTrustUnits
Mark Darwin

Mark Darwin

Next Post
Emilie Kiser’s Friend Avery Woods Honors Influencer’s Son Trigg After His Death

Emilie Kiser's Friend Avery Woods Honors Influencer's Son Trigg After His Death

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In