TA Enterprise Bhd had its annual general meeting yesterday.
Earlier in the press, it is said that TA Enterprise Bhd is expected to list its first property trust
Further update by its Executive chairman Datin Alicia Tiah pertaining to its forthcoming REIT:

• The listing of its first REIT should be by year-end or early 2008 and is expected to raise Rm500million

• Three (3) stock exchanges in Malaysia, Singapore and Australia are keen on having TA list its real estate investment trust (REIT) in their respective countries.

• Comparing the advantages and disadvantages, Singapore seemed to have the edge in terms of its valuation for  REITs compared to Malaysia, while yields there were not as high as in Malaysia.

• The properties to be injected into the REITs are the Terasen Center office building in Vancouver, the Radisson Plaza Hotel in Sydney and Menara TA One in Kuala Lumpur, which collectively have a market value of over RM1.2 billion.
• The property development and financial services group is currently in the midst of choosing its listing adviser for the REIT.

• For the future growth of its REIT, it  is keen on buying overseas properties in markets like China, India and Vietnam.
   

Analysts believe that TA is most likely to list the REIT in Singapore.

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