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Monday, April 15, 2024

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Employees Provident Fund looking to sell Alpha REIT’s assets worth more than RM500 million (US$115.73 million), Reuters reports

MALAYSIA: The Employees Provident Fund (EPF) is looking to sell assets worth more than RM500 million (US$115.73 million) held by its Malaysian education REIT, Alpha REIT, which it is winding up, according to a report by Reuters citing sources. A sale could come as early as the first quarter of this year, the sources said.

IFN previously reported that EPF, as the sole unitholder of Alpha REIT, has resolved to terminate and wind up the unlisted Shariah compliant REIT. As at the 31st December 2021, Alpha REIT’s total assets under management stood at RM428.6 million (US$99.2 million).

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