UOA REIT derives proceeds of USD29.5 million from Kuala Lumpur sale

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UOA REIT has derived net proceeds of of approximately MYR118 million (USD29.5 million) from the sale of Wisma UOA Pantai, in Kuala Lumpur.

The sum was derived after deducting all estimated costs arising from the property disposal, said the REIT on 12 June.

The proceeds will be utilised to reduce existing bank borrowings immediately upon receipt of the sales proceeds, UOA REIT added.

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