Amcorp plans asset purchase

AMCORP Properties Bhd, through subsidiary Living Development Sdn Bhd, has proposed to buy 30 retail lots of Amcorp Mall, 10 office lots within the mall, and the nearby office buildings, seven business suites of Menara Melawangi and over 1,000 parking bays for RM75 million from Melawangi Sdn Bhd.

It told Bursa Malaysia yesterday that the proposal will provide it with stable and sustainable income stream as it expects good cash flows from the property.

The property is located in Petaling Jaya and has enjoyed high occupancy rates, Amcorp Properties added.

By Business Times