Quill Capita buys two properties for RM215mil

Chief executive officer Chan Say Cheong of  Quill Capita Management Sdn Bhd (QCM), the manager of Quill Capita Trust (QCT) – a commercial real estate investment trust (REIT) listed on Bursa Malaysia which presently owned the properties under QCT  four buildings in Cyberjaya announced that:

QCM has targeted to complete the following acquisition of the two properties in Kuala Lumpur for RM215mil by the fourth quarter this year :

• Wisma Technip (Wisma Technip is a 100% occupied office building with a net lettable area of 233,021 sq ft.)  &
• Plaza Mont‘ Kiara (73,408 sq ft of lettable commercial space leased to food and beverage and retail tenants enjoys 90% occupancy.)

QCM also proposed placement of new units in QCT to raise up to RM377.2mil to finance the proposed acquisition and other requirements.The proposed placement would increase the fund size from 238.7 million units to up to 490.1 million units.  By adding the aforesaid two properties, QCM is targeting to double QCT’s asset size to RM560mil by year-end (9/6/07- The Star Malaysia)