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Saturday, August 7, 2010

GuocoLand unit ups stake in Tower REIT

PETALING JAYA: GuocoLand Malaysia Bhd’s wholly-owned HLP Equities Sdn Bhd has acquired 4.55 million units, or 1.62%, in Tower REIT for RM5.1mil including transaction costs via a direct transaction.

The acquisition raised GuocoLand’s interest in Tower REIT to 21.66% from 20.04% previously, it told Bursa Malaysia yesterday.

Tower REIT is a real estate investment trust that owns three office buildings – Menara HLA, Menara ING and HP Towers.

By The Star

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