Subang 1 is a 16-year-old single-storey warehouse in Subang while Chee Wah is an 18-year-old single-storey warehouse in Puchong. Subang 1 has a gross floor area (GFA) of 12,873 sqm (138,563.82 sq ft) while Chee Wah has a GFA of 7,705 sqm. According to MLT, both properties have “limited redevelopment potential”.
Mapletree Logistics Trust (MLT) will be divesting two of its properties in Malaysia for a consideration of 50.2 million ringgit ($15.3 million).
The REIT’s trustee, HSBC Institutional Trust Services, entered into sale and purchase agreements (SPA) with Sigma Warehousing Sdn Bhd for the proposed divestments of Subang 1 and Chee Wah. The SPAs were done through HSBC Institutional Trust Services’ special purpose vehicles (SPVs).
