Thursday, December 23, 2010

CapitaMalls Asia to Acquire Malaysian Assets

CapitaMalls Asia Limited (“CMA”) will acquire approximately 90.7 per

cent of the retail strata area (approximately 916,181 square feet) and

all car park spaces within Queensbay Mall in Penang, Malaysia

(“Properties”) through CMA’s subsidiaries and an asset-backed

securitisation structure at a purchase consideration of approximately

RM651.8 million, subject to all relevant regulatory approvals.

Pursuant to the right of first refusal granted by CMA to CapitaMalls

Malaysia Trust (“CMMT”) dated 10 June 2010, CMA has offered to

CMMT the first right to acquire the Properties.

CapitaMalls Malaysia REIT Management Sdn Bhd, the manager of

CMMT, announced that it has evaluated the offer and has decided

not to acquire the Properties at this juncture after taking into consideration

various strategic factors.

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