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Tuesday, June 23, 2009

YTL to subscribe to Starhill REIT units

PETALING JAYA: YTL Corp Bhd will subscribe for up to 75% of the total rights units issued by Starhill Global Real Estate Investment Trust (REIT) under its proposed one-for-one basis.

In a statement to Bursa Malaysia yesterday, the company said it had entered into a sub-writing agreement with DBS Bank Ltd, Merrill Lynch (Singapore) Pte Ltd and Credit Suisse (Singapore) Ltd for the purpose.

Starhill Global REIT, which is listed on the main board of Singapore Exchange Securities Trading Ltd, has proposed to issue 963.72 million new units at issue price of 35 Singapore cents per unit.

As at June 22, YTL Corp has an aggregate deemed interest in 256.1 million units, representing about 26.6% stake in Starhill Global REIT.

By The Star

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