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Article: ING to pay RM328m for Menara Standard Chartered
- Article from:
- New Straits Times
- Article date:
- November 6, 2008
- Author:
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Vasantha Ganesan
New Straits Times
11-06-2008
ING to pay RM328m for Menara Standard Chartered
Byline: Vasantha Ganesan
Edition: Main/Lifestyle
Section: Business Times
Type: Company
DUTCH insurer ING is buying Menara Standard Chartered on Jalan Sultan Ismail in Kuala Lumpur for RM328.35 million, and will continue to invest in properties in Malaysia, says its top official here.
The purchase by its Malaysian arm, ING Insurance Bhd, from Reco City Sdn Bhd is expected to be completed by year-end. Reco City is an affiliate of Singapore's GIC Real Estate Pte Ltd (GIC RE).
Business Times had earlier reported that ING was a frontrunner to buy the 45-storey building, with total tenantable area of about ...