Investor Info



Acquisition Of A Shopping Complex And Hotel tower Together With A Basement Car Park From Wetex Realty Sdn Bhd And Lease Back Of Hotel Tower

Published : 02 May 2008
Announced : 02 May 2008

Acquisition by AmTrustee Berhad ("AmTrustee" or "Purchaser") on behalf of Hektar Real Estate Investment Trust ("Hektar REIT") from Wetex Realty Sdn Bhd ("Wetex" or "Vendor"), of a five (5) storey shopping complex known as "Wetex Parade" ("Mall") and hotel tower known as "Classic Hotel" ("Hotel") together with a basement car park held under H. S. (D) 19633, No. Lot PTB 10586 ("PTB10586") and Geran 84560 (formerly known as Certificate of Title No. 2955), Lot No. 3675 ("Lot 3675") both in Bandar Maharani, District of Muar, Johor Darul Takzim (collectively "Property") for a cash purchase consideration of RM117,500,000 ("Acquisition of Property and Lease Back of Hotel")

Announcement Details :

We refer to the earlier announcement dated 18 February 2008 in relation to the Acquisition of Property and Lease Back of Hotel.

On behalf of the Board of Directors of Hektar AM, the manager of Hektar REIT, AmInvestment Bank Berhad, a member of the AmInvestment Bank Group, wishes to announce that the Sale and Purchase Agreement dated 18 February 2008 between Wetex and AmTrustee for the acquisition of the Property ("SPA") was completed on 30 April 2008.

This announcement is dated 2 May 2008.