The acquisition is subject to, among other things, the written approvals of Johor Port Authority and Pelabuhan Tanjung Pelepas Sdn Bhd, which is the sub-lessor of the hub. Both approvals are to be obtained from the vendor of the hub.
However, the written approvals are taking a longer-than-expected time to obtain due to the Covid-19 pandemic, which has led to the lapse of the sale and purchase agreement (SPA) previously signed in October 2020.
The manager of the REIT says it will continue to work closely with the related parties and will provide an update where necessary.
Units in MLT closed 2 cents higher or 1.0% up at $2.05 on June 23.
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Photo: MLT
