皇冠正网平台出租:YNH to sell properties worth RM422.5mil to ALX Asset
KUALA LUMPUR: YNH Property Bhd will dispose of two properties for RM422.50 million in cash to ALX Asset Bhd.
In a filing with Bursa Malaysia, YNH said the two properties are the 163 Retail Park shopping centre for RM270.50 million and the AEON Seri Manjung shopping centre and the freehold land it was erected on for RM152 million.
The group said that 163 Retail Park and AEON Seri Manjung belong to its wholly-owned subsidiaries, D’Kiara Place Sdn Bhd and YNH Hospitality, respectively.
"Kar Sin Bhd is the registered proprietor of AEON Seri Manjung holding on trust for YNH Hospitality,” it added.,
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YNH said ALX Asset would fund its purchase by issuing medium-term notes (MTN) under a proposed asset-backed securities MTN (ABS MTN) programme of up to RM500 million in nominal value.
"The ABS MTN programme may comprise up to one or more tranches, and within each tranche, the MTNs may be issued with different classes,” it said.
YNH said the disposals would enable the group to utilise the proceeds for the repayment of bank borrowings (RM335 million), working capital (RM81.9 million) and estimated expenses for the disposals and proposed ABS MTN programme issue (RM5.6 million).
The disposals are expected to be completed by the first half of 2023. - Bernama