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Article: AM Ara REIT pushes back RM2b target
- Article from:
- New Straits Times
- Article date:
- December 8, 2008
- Author:
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Vasantha Ganesan
New Straits Times
12-08-2008
AM Ara REIT pushes back RM2b target
Byline: Vasantha Ganesan
Edition: Main/Lifestyle
Section: Business Times
Type: Company
AM ARA REIT Managers Sdn Bhd's plan to increase the asset size of its AmFIRST Real Estate Investment Trust (AmFIRST REIT) by nearly two-and-a-half times to RM2 billion has been delayed by at least 12 months due to weak economic conditions.
It had announced plans in April this year to grow its portfolio of assets from the current RM840 million to RM2 billion by its fiscal year ending March 31 2010.
AM Ara REIT Managers chief executive officer Lim Yoon Peng said it will be more likely to hit the target beyond 2010.
"This goal is ...