Amcorp Properties Berhad (KLSE:AMPROP) agreed to acquire 30% stake in Am ARA REIT Holdings Sdn Bhd from ARA Asset Management (Malaysia) Limited for MYR 5 million on December 14, 2017. Amcorp Properties Berhad will acquire 0.3 million shares. Amcorp Properties Berhad entered into share transfer agreement to acquire 30% stake in Am ARA REIT Holdings Sdn Bhd from ARA Asset Management (Malaysia) Limited on January 5, 2018. Amcorp Properties Berhad will use internal funding for the acquisition. The transaction is not subject to the approval of the shareholders of AMPROP or any other relevant government authorities. Security Commission approved the transaction on December 14, 2017. Board of Directors and audit committee having considered all aspects of the proposals and is in favor of the transaction. The proposals are expected to contribute positively to the future earnings and growth of Amcorp. Amcorp Properties Berhad (KLSE:AMPROP) completed the acquisition of 30% stake in Am ARA REIT Holdings Sdn Bhd from ARA Asset Management (Malaysia) Limited on January 5, 2018.