KUALA LUMPUR: YNH Property Bhd will dispose of two properties for RM422.5 million in cash to ALX Asset Bhd.
In a filing with Bursa Malaysia on Nov 17, YNH said the two properties are the 163 Retail Park shopping centre for RM270.5 million and the AEON Seri Manjung shopping centre and the freehold land it was erected on for RM152 million.
The group said that 163 Retail Park and AEON Seri Manjung belong to its wholly-owned subsidiaries, D’Kiara Place Sdn Bhd and YNH Hospitality, respectively.
“Kar Sin Bhd is the registered proprietor of AEON Seri Manjung holding on trust for YNH Hospitality,” it added.
YNH said ALX Asset would fund its purchase by issuing medium-term notes (MTN) under a proposed asset-backed securities MTN (ABS MTN) programme of up to RM500 million in nominal value.
“The ABS MTN programme may comprise up to one or more tranches, and within each tranche, the MTNs may be issued with different classes,” it said.
YNH said the disposals would enable the group to utilise the proceeds for the repayment of bank borrowings (RM335 million), working capital (RM81.9 million) and estimated expenses for the disposals and proposed ABS MTN programme issue (RM5.6 million).
The disposals are expected to be completed by the first half of 2023. - Bernama
Source: The Sun Daily
A word from our sponsor:
Need Help With Your Personal Finance / Money Issue or need a coach to help you structure or just want to learn the financial skill to self manage your financial matters and retirement. iLearnFromCloud.com
Need to solve a problem quickly, now you can solve it by learning the art of problem solving Art Of Problem Solving
Feeling hungry. Latest food news from Best Restaurant To Eat Malaysian Food and Travel Blog
Memory loss. Need to organize better. Solve problem fast with Free Mind Mapping Software Mind Mapping 101
Need A Customized System Development for your business or Going Paperless XPERT TECHNOLOGIES - Empowering The Paperless Economy
No comments:
Post a Comment