Kulim will be paid partly in cash of RM63 million, while the remainder will be through the issuance of 42.9 million new units of Al-'Aqar KPJ Real Estate Investment Trust (REIT) at an issue price of 98 sen per unit.
AmanahRaya is the trustee of Al-'Aqar REIT.
Kulim managing director Ahamad Mohamad said proceeds from the divestment will be utilised for repayment of the group's borrowings.
By Business Times
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