Lagenda Harta Sdn. Bhd entered into a sale and purchase agreement to acquire 3 Damansara Office Tower from CapitaLand Malaysia Trust for MYR 52 million

Lagenda Harta Sdn. Bhd entered into a sale and purchase agreement to acquire 3 Damansara Office Tower from CapitaLand Malaysia Trust (KLSE:CLMT) for MYR 52 million on September 5, 2023. Under the terms, MYR 1.04 million was paid prior to the execution of agreement, MYR 4.16 million was paid on execution of the agreement while the balance MYR 46.8 million shall be paid.

The proposed acquisition is to be financed by bank borrowings and/or internally generated funds. The Transaction is expected to complete by 1Q 2024. The net proceeds after divestment costs will be used to repay existing borrowings.