Malaysia-listed KIP REIT has received its unitholders’ approval for the proposed acquisition of KIPMall Kota Warisan.

The acquisition was one of two proposals tabled and approved at the virtual extraordinary
general meeting (EGM) held on 4 October.

Besides the acquisition, a proposal to carry out a private placement of up to 12,269,900 new units in KIP REIT was also approved at the EGM.

The placement would raise approximately MYR10.0 million for the REIT.

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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.