SEGi To Sell Property To AmanahRaya And Lease-back Same

Published by slang July 7th, 2007 in REIT

Chief executive officer Datuk Clement Hii of SEG International Bhd (SEGi) announced in The Star that :

There are plans to sell by year’s end the new SEGi
College campus in Kota Damansara to AmanahRaya Real Estate Investment Trust (REIT) and lease it back for 15 years. AmanahRaya REIT had made a tentative offer of RM145mil but the two parties were still working out the value.
The move was aimed at unlocking the value of the land and to fund the construction of the new

Early this year, SEGi sold its Subang Jaya campus to AmanahRaya REIT for RM48mil. Hii said proceeds from the sale were being used to settle bank borrowings and fund future expansion in overseas markets. ((22/6/07, The Star

Malaysia)

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