Kenedix to buy 15% of M'sian Reit for 86m ringgit

Kuala Lumpur

JAPANESE real estate asset manager Kenedix Inc will buy 15 per cent of Malaysian real estate investment trust AmanahRaya Reit for 86 million ringgit (S$28 million), the companies said on Monday.

Kenedix will also buy 49 per cent of AmanahRaya Reit's parent for 5.1 million ringgit, they said in a joint statement. AmanahRaya Reit said it expects the deals to spur growth in its portfolio through acquisitions or asset enhancement.