OTHERS Proposed Disposal of Kayangan Depot (“the Property”) via Public Tender
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | Proposed Disposal of Kayangan Depot (“the Property”) via Public Tender |
The Board of Directors of Axis REIT Managers Berhad, the management company (“Manager”) of Axis Real Estate Investment Trust (“Axis-REIT” or the “Fund”), wishes to announce that a public tender for the proposed disposal of the Property will be advertised in The Star (15 May 2012), Sin Chew Jit Poh (18 May 2012), Nanyang Siang Pau (22 May 2012) and China Press (22 May 2012) to invite interested buyer(s) to submit their offer(s) to purchase. The Property is described as a piece of leasehold land held under H.S.(D) 22390 for PT 61, Seksyen 15, Bandar Shah Alam, Daerah Petaling, Negeri Selangor which measures approximately 12,328 sq. metres together with a 3-storey building erected thereon comprising office, warehouse and showroom space with a gross built-up area of approximately 173,582 sq. ft. bearing postal address No. 3, Jalan Keluli 15/16, Section 15, 40200 Shah Alam, Selangor Darul Ehsan. The Manager is of the view that the Property has reached its optimal value and it is timely to realise the capital gain for the benefit of the Unitholders. The objective for the open tender process is to provide a fair and transparent platform for the proposed disposal. The Manager, on behalf of Axis-REIT, will have the right to sale or even choose not to proceed with the proposed disposal of the Property without assigning any reason thereof; or abort the said proposal should the final bid received by the Manager is not in compliance with Chapter 8 of the Securities Commission’s Guidelines on the Real Estate Investment Trusts issued on 21 August 2008 (updated 13 July 2011). For further enquiries on the proposed disposal of the Property, please email to tenders@axis-reit.com.my. This announcement is dated 14 May 2012. | |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 14 May 2012 |
| Category | General Announcement |
| Reference No | CC-120514-4D703 |
