Mapletree Logistics Trust (MLT) has completed the divestment of its property called Linfox in Section 33, Shah Alam, Selangor, Malaysia for a sale price of RM72 million ($21.65 million), according to a bourse filing on March 19.
This is one of three properties in Malaysia that MLT proposed to divest last September. The other two are Celestica Hub and Zentraline.
Linfox comprises a single-storey detached warehouse and an annex double-storey office, with a net lettable area of 17,984 square metres and building age of approximately 27 years.
The proposed sale price of RM72.0 million for Linfox is 28.6% above the latest valuation of RM56.0 million as at March 31, 2024.
The divestment of all three properties are expected to be completed by FY2024/FY2025. Following the divestment of Linfox, MLT’s portfolio stands at 180 properties and the total value of assets under management is $13.3 billion.
Units in Mapletree Logistics Trust closed flat at $1.29 on March 19.
