Axis REIT acquires warehouse in Port Klang for RM80m

• The single-storey detached warehouse comes with an annexed double-storey office, as well as a 1½-storey detached warehouse and other ancillary buildings, which were built upon a portion of leasehold land.

KUALA LUMPUR (Aug 1): Axis Real Estate Investment Trust (KL:AXREIT) has proposed to acquire a warehouse in Port Klang for RM80 million in cash.

The single-storey detached warehouse comes with an annexed double-storey office, as well as a 1½-storey detached warehouse and other ancillary buildings, which were built upon a portion of leasehold land, the REIT said in a filing with Bursa Malaysia on Friday.

RHB Trustees Bhd, the trustee for Axis REIT, has entered into a sale and purchase agreement with the vendor TS Worldwide Warehousing Sdn Bhd for the purchase.

TS Worldwide will undertake to subdivide the master land and deliver to RHB Trustees a final land area of about 41,248 square metres (10.19 acres), along with the buildings on it.

TS Worldwide is in the business of rental, operation of transmission, distribution and sale of electricity.

The acquisition will be funded by the REIT’s existing bank financing and is expected to be completed by the fourth quarter of 2026.

Axis REIT closed up two sen or 1.01% to RM2.01, giving the REIT a market capitalisation of RM4.06 billion.

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