CapitaMalls Malaysia Trust (CMMT), the country's largest pure-play shopping mall property trust, is actively looking to add more malls to its portfolio.
CMMT, which was publicly listed in July 2010 was buying East Coast Mall in Kuantan.
When completed, CMMT will have a portfolio of four malls, the rest being Gurney Plaza in Penang, an interest in Sungei Wang Plaza in Kuala Lumpur and The Mines in Selangor. The three malls were valued at RM2.43 billion as at end-June 2011.
CMMT plans to fund any purchase via a combination of funds raised by unitholders as well as bank borrowings.
Any new mall it buys must meet certain criteria, such as having a catchment of at least 300,000 to 400,000 people and sustainable rents.
There was no push for CMMT aims to increase its interest in Sungei Wang to do so at the moment, although "there are always people in talks". CMMT already has control over the mall with its interest of about 62 per cent and it would not make financial sense to buy more now.
CMMT, which was publicly listed in July 2010 was buying East Coast Mall in Kuantan.
When completed, CMMT will have a portfolio of four malls, the rest being Gurney Plaza in Penang, an interest in Sungei Wang Plaza in Kuala Lumpur and The Mines in Selangor. The three malls were valued at RM2.43 billion as at end-June 2011.
CMMT plans to fund any purchase via a combination of funds raised by unitholders as well as bank borrowings.
Any new mall it buys must meet certain criteria, such as having a catchment of at least 300,000 to 400,000 people and sustainable rents.
There was no push for CMMT aims to increase its interest in Sungei Wang to do so at the moment, although "there are always people in talks". CMMT already has control over the mall with its interest of about 62 per cent and it would not make financial sense to buy more now.
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