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Article: Quill Capita buys Tesco building in Penang

Article from:
New Straits Times
Article date:
May 15, 2008
Author:
Copyright

Chong Pooi Koon
New Straits Times
05-15-2008
Quill Capita buys Tesco building in Penang
Byline: Chong Pooi Koon
Edition: Main/Lifestyle
Section: Business Times
Type: Company

QUILL Capita Trust has bought a Tesco building in Jelutong, Penang, from property developer IJM Properties Sdn Bhd for RM132 million, bringing its total asset size to RM796 million.

Chief executive officer of the trust's manager Chan Say Yeong said the purchase is expected to provide an initial net property yield of 6.3 per cent when the deal is completed by the fourth quarter of this year.
Speaking in Kuala Lumpur yesterday, he said the purchase will be funded mostly with debts and a small portion of internal funds. A ...

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