Sovereign wealth fund Government of Singapore Investment Corporation (GIC) has acquired 304,900 new units in Malaysia-listed Retail REIT CapitaMalls Malaysia Trust (CMMT).
|CMMT positions itself as Malaysia's only pure Retail REIT.|
This was revealed in an announcement made today. The purchase was made on 28 March 2013 at a price that was not immediately disclosed. CMMT currently trades at MYR 1.86 per unit.
The acquisition of the new units brings GIC stake in CMMT to 5.81 per cent or 102,699,000 units in totality.
CMMT has positioned itself as Malaysia's only pure-play Retail REIT with a breadth of 4 shopping malls across Malaysia including Sungei Wang Plaza in Kuala Lumpur and Mines Resort City in the state of Selangor. Its current portfolio of properties stands at about MYR 2.9 billion.