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Wednesday, January 23, 2008

Mapletree buys properties in Johor for RM61.5mil

KUALA LUMPUR: Singapore-based Mapletree Industrial Fund Ltd (MIF) has acquired four properties in the Tampoi Industrial Estate for RM61.5mil on a sale and leaseback arrangement with Tangkai Jaya Sdn Bhd and Setegap Jaya Sdn Bhd.

The properties were double-storey, purpose-built detached factory buildings, it said in a statement.

All the properties are subleased to individual tenants, namely Enplas Precision (M) Sdn Bhd, MCE Technologies Sdn Bhd and Celestica Electronics (M) Sdn Bhd, with Celestica Electronics occupying two buildings.

One of the more established industrial estates in Johor Baru, the Tampoi Industrial Estate enjoys good access to road, sea and air transportation.

The properties are located 10km north of Johor Bahru city centre.

Phua Kok Kim, chief executove executive officer of Mapletree Industrial Fund Management Pte Ltd (MIFM) said the acquisition has enabled the MIF to increase its portfolio of good quality industrial assets in Malaysia.

By Bernama

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