- Vision City,the integrated development project,could possibly be injected into Bursa Malaysia-listed Quill Capital Trust (QCT) on its completion in 2010 by the Quill Group of Companies (Quill group). Quill Retail Malls Sdn Bhd,a subsidiary of Quill group,on Monday signed an agreement with Rashid Hussain Bhd to acquire the uncompleted project at Jalan Sultan Ismail,for RM430mil.
- Based on QCT’s listing agreement,its manager,Quill Capital Management Sdn Bhd,had the first right of refusal on the commercial properties developed by Quill group and CapitalLand group,both of which are major shareholders.
- The acquisition includes a pre-approved development order for the construction of a seven-level retail centre with a net lettable area (NLA) of 752,000 sq ft,a 35-storey office tower with NLA of 500,000 sq ft,a 45-storey serviced apartment block with 450 units and 2,280 car parks.
- HSBC Malaysia’s new annexe building,which is expected to be completed by the first quarter of 2010,is another asset that may be injected into QCT.
- In June,the REIT announced to buy Wisma Technip and Kiara for RM215mil. The trust’s current asset portfolio include HSBC Global Service Centre,BMW Malaysia headquarters and two DHL buildings,all of which are in Cyberjaya. (18/7/07-The Star Malaysia)
- Two Projects To Be Injected Into Quill Capita Trust
- Quill Capita buys two properties for RM215mil
- Quill Capita REIT’s RM877m fund to buy properties
- International World Class MSC Malaysia Status Companies
- GCH Retail Has Bid For Makro
- Plans to inject Subang,Mahkota malls into REIT
- August’07 Malaysian Reits Update
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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