Senai-UPS warehouse. (Photo: Mapletree Logistics Trust)Senai-UPS warehouse. (Photo: Mapletree Logistics Trust)

Mapletree Logistics Trust has begun a process to divest a single storey property with an annexed two-storey office building in Malaysia known as the Senai-UPS warehouse.

The property will be disposed at a sale price of MYR28.0 million (SGD9.2 million), which represents a premium of about 37% over its latest independent valuation.

The Senai-UPS warehouse will be sold via a special purpose entity incorporated in Malaysia by the trustee of Mapletree Logistics Trust, to V.S Industry Berhad.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.