As reported in The Star Online, Atrium Real Estate Investment Trust’s (REIT) trustee, Pacific Trustees Bhd, has accepted the banking facility of a term loan and bank guarantee amounting to RM12.8mil and RM300,000 respectively, offered by Public Bank Bhd.
In a filing with Bursa Malaysia yesterday, Atrium REIT said that the offer was accepted via the bank’s letter of offer on Aug 26, 2016 for the purpose of financing 80% of the total cost of the proposed asset enhancement initiatives (AEI) at Atrium Shah Alam 2.
It said the AEI commenced in the first quarter of 2016 and was fully completed at a contract sum of RM16mil.
“The property is expected to contribute positively to the earnings of Atrium REIT as Atrium REIT has secured a new tenant for the property with effect from April 1, 2016.
“The AEI is also expected to enhance the market value of the property,” it added. –Bernama
Click here in order to read the full article as published in The Star Online.
